From my experience this is a perfectly legal and common thing to do.
The only question I have is: How much overtime do you normally work?
These agreements are common in retail businesses where the employer wants to make sure that people aren't working more overtime than they need to for the sole purpose of getting extra pay.
Hence the reason I asked how much overtime you normally work. If you work a ton, and it is because your employer expects you to stay then this is a shoddy deal.
If you work a lot of overtime at your discretion, then what your employer is doing is saying that you either need to just go home when your 8 hours is up, and finish off whatever you were doing the next day, or that you need to start working more efficiently.
At my previous employer we had the same agreement and it was in place because people were constantly working 55 hour weeks and expecting OT pay when really there was no reason for them to be working overtime. Our employer basically told us that unless absolutely necessary we were not permitted to ever work above 48 hrs per week because the employer did not want to have to pay overtime. A sentiment that, although kind of cheap, is totally understandable considering how much OT can cost a company if it is rampant.
Just my 2 cents.
|