I recently experienced a major setback when my husband was terminated from a business he built from the ground up. He has an MBA from IIM and nearly a decade of experience, starting in banking and moving into corporate roles in business development and leadership. A few years back, he met an older gentleman who needed help with managing his demat and share-related work. Initially, my husband assisted him without any payment while still employed elsewhere. Eventually, this man offered him a position to help build the business. My husband took a leap of faith and accepted the role, starting from almost nothing. Over three years, he grew the business significantly, building it to crores and forming a team of around 13 people, while managing operations almost single-handedly in the beginning. However, after reaching a stable point, he was unexpectedly terminated, with the company citing a decline in performance. This was especially painful given the changes in his compensation structure over the years, which went from 12% to 10%, then 5%, and ultimately to nothing. The employment terms were altered multiple times, and there are ongoing issues regarding his variable payments and dues. I understand that businesses evolve and performance can fluctuate, but it feels unjust that someone who laid the foundation is now treated as if their contributions are insignificant. It's heartbreaking to see him go through this, especially after dedicating years of hard work and trust. I'm seeking advice from anyone who has faced similar situations: What steps should he take now? Should he pursue the unpaid dues? Is consulting an employment lawyer advisable? And how can he frame this experience positively in future interviews?
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