Thread regarding Wells Fargo & Co. layoffs

Per the previous reply, it's nearly impossible to contest a rating or review... especially right now when I suspect a lot of folks will be calling HR about theirs. Even if your HR rep agrees with you off the record (which is what happened to me when a boss retaliated a few years ago), the only recourse is to make a note in the review with your POV. It's for you to prove it's not valid, rather than your manager to prove it's valid.

Full disclosure: I was laid off from WF a couple of years ago. My suggestion is, just try to keep smiling and be networking and resume updating like crazy behind the scenes. If your name is on a list someplace, there's not much you can do now to change that decision. Use your energy to prep for the worst-case outcome.

FYI in my case I was expected to work for 30 days to "transition", and the latter 30 was a gift. It's important to meet expectations until severance kicks in, or technically WF could void your package. That said, I had plenty of time to wrap up my work and prepare for my job search in those 30 days.

"And why would any manager rank people on team a 1 or 2 if they aren't,"

Because they can. Have you ever tried contesting your review? Employee Relations is useless in this regard. Managers can write WHATEVER THEY WANT in your review and you are powerless to do anything about it. They can fill your review full of lies and subjectivity and even if you have documentation to prove otherwise, a complaint will go nowhere.

Wellsfargo is firing blacks for no reason

I’m a manager and nowhere does it say you are instructed to rate someone 1-5. Maybe this is business line specific

You will be given a rating of 1-5. 5 is the best or "performing" and 1 or 2 is "needs improvement". Managers are being instructed to rate at least 20% of team a rating of 1 or 2. I am sure some out there really do need improvement, but when there's pressure being put onto managers they must hand out low ratings, its typical WF all over again just like fake account scandal and so many other scandals last few years. I would save any docs showing your performance just in case to fight it in court for severance/unemployment if happens to you.

What's the 1 or 2 rating mentioned in a few of these comments? I'm preparing for mid-year as a contributor and am not sure what that rating is referring to.

Downvoted previous post for attitude.

Company is required to pay severance if they wrongfully terminate you in lieu of layoff and you can prove it, since its in the handbook. And why would any manager rank people on team a 1 or 2 if they aren't, sounds a lot like those who were pressured into opening fake accounts doesn't it? Why don't people at WF grow up already?

Unfortunately, severance is not a right. Companies are not required to provide severance (common misconception).

Eligibility for unemployment benefits is another matter. You can go after WF if they fire you for just cause with no basis for it.

But trust me, we've been given a roadmap for lawsuit-proof just cause terminations. WF has upped their cost-saving game.

And those who talk of lawsuits due to age discrimination are fooling themselves. With the volume of layoffs, WF will easily mask the discrimination. It's there, but you won't be able to prove it.

Hang on tight...the layoff volume is staggering. No one will want to work at WF after this. And the company is unlikely to exist a few years from now.

Sue them if they try to avoid paying severance. Will be cheaper for them to just pay it rather than fight a lawsuit. Know people that did this and they got severance when fired.

@mmc+15XFkwJF
No it's 2 weeks for every year. Was part of the brokerage displacement end of last year. Getting 52 weeks and using it to take me to retirement.

Roughly, how many people are getting 1s and how many 2s?

I have a feeling 4s/5s are going to be harder to come by than exceeds last year.

California suspended the 60 day notice because of COVID-19. So it's questionable if companies need to give 60 days now.. Don't know if it applies to any of Wells future actions..

https://www.shrm.org/resourcesandtools/tools-and-samples/exreq/pages/details.aspx?erid=1543

Per my last department lay-off it was only 1.5 weeks for every year of service

"the sooner you get away from this company the better"

Sure, and be the new guy at some other place in the middle of a pandemic? No thanks.

They must give you a 60 day WARN notice. If you are over 40 years old, they are required to send a list of all the people over 40 that were part of the layoff. You may have to call HR for it but its required to be available by law.

While you could sue WF for age discrimination (and you may be successful), the sooner you get away from this company the better. Its really messed up and there are better banks to work for.

So yes, you'll get a 60 day notice. That 60 days is paid and will either be working, non-working, or a mixture of both. After your notice period ends is when your severance pay kick in, 2 weeks per year of service up to 52 weeks maximum.

Personally I'd prefer a non-working 60 day notice period.

https://www.employmentlawhandbook.com/state-employment-and-labor-laws/state-layoff-notice-laws/

60 day notice is required in a lot of states. You want to review your state's WARN list.

Yes – they are looking for any reason to fire for cause. Mgrs were told this as recently as this week.

If you get a 1 or 2, warranted or not (lots on latter bucket due to mandatory bell curve bring instituted), then no severance and no unemployment.

Cause to fire as in rating you a “2” mid year?

they will pay you the 60 days, unless they have cause to simply fire you.

You will still get paid if its 60 day notice, and severance.

Its risk off.....its better to just get you out vs keep you around to poison the well.

Thats harsh reality

But remember if you are over 40, retain a lawyer and dont sign anything. Over 40 you have a case for age discrimination.

Discovery can be a very fun process, especially in a fukked up bank like this.....they would rather settle than have more dirty laundry aired.

I think it depends on where you reside. I have seen some groups get 60 days and some they go poof but I do not know what their packages were like aka if they got extra severance.