Pay+Benefits during WARN (60-day notice) period & Beyond

For those not familiar with WARN, please lookup the federal WARN Act for more details. This is the "60-day notice" that WF is giving to those being laid off.

Some questions I have:

(1) Does payroll (direct deposit, benefits, PTOs, etc.) continue as-is until the end of the 60-day notice period?

(2) Will medical coverage (through WF group policy) end on day 61? Or the end of the month (EOM) in which day 61 falls in?

(3) Is the expectation that the displaced need to make alternative medical insurance arrangements - for new coverage to begin on day 61 or the EOM in which day 61 falls in? Alternate medical insurance being: COBRA, public health exchange, or new employer medical plan.

(4) Are the displaced expected to continue to work as usual during the 60-day notice? Or can they 100% focus on job hunting?

(5) Can accrued PTOs be used during the 60-day period?

(6) Only 24 states have laws requiring employers to pay out accrued PTOs, Holidays, and/or Sick Time. Is WF taking advantage of that? I.e. If the displaced works in a state with no PTO-payout law, then they're SOL. Or is WF uniformly paying out PTOs regardless of state of employment?

I'm already aware of getting jipped on 401(k) company match (end of December) and 2021 bonus (paid in February 2022).

(7) How is the severance (2 weeks pay for each full year of WF employment) paid out beyond the WARN 60-day notice period? Paper check? Direct deposit? Installments? Regular bi-weekly payroll? Lumpsum?

(8) During the WARN 60-day notice period, is the employment status still "currently employed with WF" (from the POV of job hunting and recruiters)?

I realize these are a lot of questions. I would be super appreciative if anyone can help answer them confidently - without guessing.

I also realize that this is a public forum, and you're free to post whatever you feel like. With that being said, I would also be super appreciative if you could refrain from posting about chainsaw, RTO, COVID, rantings, ravings, or anything else unrelated to this specific thread.

Whether you feel the mass layoffs are justified or not, it is an extremely difficult and turbulent event impacting thousands of fellow employees. A little empathy and compassion can really go a long way.

Thanks in advance...cheers!

Comment! It's anonymous!

9 replies (most recent on top)

@2ueq
Thank you.

You are an employee with regular pay and benefits throughout the 60-day period. We have moved to 60-day non working notice, so you will have zero work responsibilities from 1pm et on the day you are notified.

Your severance is paid as regular payroll on regular pay days every two weeks until it’s exhausted. Your medical coverage will end on the last day of the calendar month in which your final severance payment (called salary continuation) is made.

If your role was bonus eligible, you will be eligible to receive a pro-rated bonus for the months you worked plus the 60-day notice period. This will be paid at normal payment time in February, via direct deposit.

Good luck to you.

@1tyt
Thank you.

Why do trolls feel the need to be a holes? Says a lot about YOU as a person and is even worse that you are doing it when someone is down.

OP-you are still an employee during the 60 days. I’m not sure about the rest. Ignore the jerks, they just need to make themselves feel superior for some reason.

@OP+1bQDlb1q

No, you’re actually already aware of getting “gypped” on 401(k) company match (end of December) and 2021 bonus (paid in February 2022).

Folks, they walk among us.

You have benefits as usual and pay per usual during 60 days notice as well as your entire time receiving severance. The benefits book which is posted on TeamWorks covers all of this and is not difficult to understand.

@eve

Thank you.

Yes during warn 60 you are still an employee

Answers to most of these questions are found in the benefits book. They’re not hard to find.

Thread regarding Wells Fargo & Co. layoffs

Pay+Benefits during WARN (60-day notice) period & Beyond

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