My employer has 2 months of notice period.

Now, I've got an offer where the recruiter is insisting to try to reduce the notice period to 45 days (buy out) and if that doesn't not happen then they will extend the joining date based on my last working day.

Do companies usually changes/extend the DOJ based on certain parameters?

Should I be concerning about this as I think my current employer might not reduce the notice period?
I also want to utilise the notice period to get more better offers!

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Yes, they do change but it would be better to ask them to release an offer with 60 days Notice and if required they can release a new offer with 45 days.

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As I’m aware, if you are paying money against your notice current employee will relieve you. I hope already filed the notice and got your manager approval. Now go and talk with HR regarding norms they are having before that confirm if your future employer is ready to buy out you/notice period

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