Thread regarding Wells Fargo & Co. layoffs

Time Away

Anyone check out the new policy added to the TeamMember Handbook under time away? A new policy has been introduced for ‘Relocation Time Away’. It ultimately outlines that Relocation Time Away is a new benefit that is separate from your PTO allotment and can be used for business-specific relocations or situations where military spouses are required to move due to a military station change.

Interesting benefit add. I’m going to guess they didn’t highlight this as a new benefit in the recent town hall because of impending announcements and it’ll be leveraged more for internal location strategy than it will be for military spouses.

It’ll be even more interesting to see what all comes to fruition with the location strategies being determined.

by Anonymous
| 1247 views | | 5 replies (last February 16, 2020) | Reply
Post ID: @OP+13v3i2x8
Comment! It's anonymous!

5 replies (most recent on top)

If you are offered an option to relocate at the company expense, I would highly encourage you to require the company pay to move you back if they terminate your job within 2 years. Adjust the number as you see fit. But I’ve seen WF move people and then a few months later cut positions. You don’t want to pay to move your family back at the same time you are looking for a new job. If any manager says they can’t do this, then ask for an employment contract that guarantees tour position for a certain amount of time... like 2 years. If they say no, then it would be prudent to decline to move with this company. You have to protect yourself as this company downsizes.

by Anonymous
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Post ID: @2rpy+13v3i2x8

I was relocated from the North East to the South East by my former company, many years ago.
They did pay for all relocation expenses. However around 4 years later they laid most of the employees off due to a merger with another company.

by Anonymous
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Post ID: @1phj+13v3i2x8

This company is f***ed, and they deserve it for not being able to fix it after 5~15 years?

by Anonymous
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Post ID: @ofj+13v3i2x8

Right. That's the kicker. After relocation - it is not like your job is guaranteed. You can still get laid off or fired in 1 month, 3 months, 6 months and etc.

So, you moved your family for nothing. And now you are in a strange town.

by Anonymous
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Post ID: @zdr+13v3i2x8

It's there way of putting a spin on things so to add as a benefit time off for packing up your home to relocate and then get laid off anyway.

by Anonymous
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Post ID: @ntb+13v3i2x8

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