Does any one know how many weeks of severance we will be paid if displaced? Is it two weeks of each year?
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I just looked at the policy; team members should receive 8 weeks of severance if they've completed 1 to 4 years of service. Additionally, team members should also be given 60 days' notice. In total, one should receive at minimum ~4 months of pay from the day he or she is notified of their termination.
To the person that said the severance is a minimum of 2 months... Is that 2 months simply the 60 notice, or is it a 60 day notice, and then 2 months of severance after that?
They warned us of the layoffs in May 2018
They ended up with a lay off date of Feb 26 2019
They paid 30 days till March 26 and then the severance started from March 27th onward
So I worked at wells for 19 years and got around 9 months of paid severance. Checks were
Biweekly and my full medical and dental insurance were covered during this lay off time.
All this is true. Stay safe and god bless
The severance package was changed about 2 years ago. It is easily looked up on teamworks. If I remember correctly it is now 1/2 mo per year of service. And you can take a lump sum or choose to get regular paychecks.
@1jpd+15Ijljd9 False. The $600 benefit is available for weeks ending on or before July 31.
COVID extra unemployment ended today.
why should the employees with less work experience at WF be discriminated against in this layoff ?
he said 'in most cases' - so they may just go by whatever minimum in each state. Layoffs are not to make employees happy but to save $, so why gave away more than they must. I'd plan the worst and hope for the best.
It is and has been for a while 2 weeks per year of service. It's not a lump sum payout but bi-weekly paychecks unless you find a benefits eligible job (outside of WF) before your severance ends, then they pay you the remainder in a lump sum.
They notify you 60 days before you are laid off- so that’s basically 60 days severance.
They notify you 60 days before you are laid off- so that’s basically 60 days severance.
http://www.charlotteobserver.com/news/business/banking/article145074749.html
"Severance is now two weeks of pay for every full year of service, with a minimum of eight weeks and a maximum of 52 weeks, Rodriguez said. The result is that in most cases an employee will now make less in severance if they are laid off, the documents show."
It used to be 1 month per year service, so to fk employees more and utilize the last crisis, it was cut in 1/2.
This is yet another reason you should not be busting your a– for this company.
They want send your job overseas and you wont get sh– for severance.
Yeah, just tool up for new skills and start polishing resume.
Wells doesnt care about you. At all.
in previous layoffs, have they offered different packages for people in different states ? or just one uniform severance package ?
are the 'target state' location hubs located in states that are 'employment at will'? It seems like it.
Covid extra runs out in a couple weeks, unless it gets extended
my State requires 60 days notice for group layoffs. What laws would require WF to pay more? WIth the COVID extra unemployment benefits + unemployment insurance that is a sweet deal already for staying at home and chilling.
I heard its two weeks for each year of service.