Has anyone heard of any new information around the hiring freeze for area 1, the Frederick site closure or any 4th quarter layoffs in Frederick?
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Specifically speaking to the scenario where 3 years ago a person with 3 years tenure got more severance than someone with 15 years currently, that is not true. The packages 3 years ago were definitely better, but not to that extent. I recall reviewing the old severance plan several times, trying to determine how long I needed to make it to get X months pay. I do know at 10 years, you got 8 months salary vs now, that would be more like 5 months. I was let go last year after 12 years and got almost 6 months-24 weeks. On the old plan It would have been 8 months I believe.
I have a feeling they will change the severance packages again at the start of the new year. It’s so hard to believe that the people who were laid off 3 years ago after three years with the company got more severance then I would get now after 15 years. I say that of course if I am even lucky enough to even get severance. They are letting people go left and right for the smallest of things to avoid payout of any kind. It’s true. I too have looked externally for a new position but most of WF’s competition in this area are either closing their sites, not hiring or if they are, its entry level work that doesn’t pay much. I am not so sure that what we are hearing about the site closing is a rumor. If we are in such a financial crisis, why are we renting a building this size and only using a quarter of it? Why are we transferring major functions to other locations, not bringing and new functions here, and not hiring or backfilling positions in this site? There is always a little bit of truth to every rumor you hear.
I am feeling the effects now with the toxic culture and being pushed out by the manager and the group after doing all the work, but at least i found out sooner than being there tons of years. Thank God I just got 3 offers with much higher pay on the outside so i am safe now.
Severance packages ate not guaranteed. WF is not only avoiding them, but is also avoiding unemployment claim payouts by using trumped up BEs/PIPs so they can claim termination for cause.
The well is dry and the company is desperate. Unethical to the core.
As a manager, I'm horrified at the things I'm already being asked to do. It will only get worse in a little over a week when new CEO arrives. Charlie's awful actions and abysmal reputation precede him.
I can't find a new job soon enough.
do they give packages?
So, we’re back to rumors about the Frederick site closing again?
I would assume once the new CEO takes the reigns, heads will start rolling at all sites, not just Frederick