Any idea what severance pay looks like? Do you have to be a 3 or above to get severance? Thanks.
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If WF blames layoffs on COVID they will be able to use the exception, hence no WARN payouts. COVID cha-ching.
https://www.dol.gov/sites/dolgov/files/ETA/Layoff/pdfs/WARN%20FAQ%20for%20COVID19.pdf
For permanent layoffs, may I claim an exception to the WARN Act because of COVID-19?
If I do, what are my responsibilities?
The Department recommends that employers review the “unforeseeable business circumstances”
exception to the 60-day notice requirement (contained in the WARN Act at § 3(b)(2)(A), and the
WARN regulations at 20 CFR 639.9) set out below:
https://www.dol.gov/sites/dolgov/files/ETA/Layoff/pdfs/WARN%20FAQ%20for%20COVID19.pdf read page 2 and 3.
The “unforeseeable business circumstances” exception… applies to plant closings
and mass layoffs caused by business circumstances that were not reasonably
foreseeable at the time that 60-day notice would have been required.
(1) An important indicator of a business circumstance that is not reasonably
foreseeable is that the circumstance is caused by some sudden, dramatic, and
unexpected action or condition outside the employer’s control. A principal
client’s sudden and unexpected termination of a major contract with the
employer… and an unanticipated and dramatic major economic downturn
might each be considered a business circumstance that is not reasonably
foreseeable. A government ordered closing of an employment site that occurs
without prior notice also may be an unforeseeable business circumstance.
(2) The test for determining when business circumstances are not reasonably
foreseeable focuses on an employer’s business judgment. The employer must
exercise such commercially reasonable business judgment as would a similarly
situated employer in predicting the demands of its particular market. The
employer is not required, however, to accurately predict general economic
conditions that also may affect demand for its products or services.
if you think wells fargo would never fire someone instead of laying them off, then you either don't know many people at wells or you haven't worked here long. Wells Fargo is sued a lot by employees, or ex-employees....why do you think that is?
OMG
This narrative about the company being sneaky or trying to avoid WARN is just ridiculous. The WARN act has one provision, that you get 60 days notice of lay-off if you work for a company with more than 100 employees. Your performance is not relevant.
I really don’t know how anyone can make this any clearer. It’s not a conspiracy, the company is definitely going to be laying people off. It is definitely easier to lay people off than fire them.
If the lay-off is driven by “underperformance”, the company does not have to report to WARN. That’s the sneaky thing about this rating scale: 1) avoid WARN then public attention; 2) avoid severance package and unemployment benefits
The handbook states they provide a 60 day notice and does not specify only certain states. All these questions about severance and this is all spelled out in the handbook. Open it and READ.
North Carolina has WARN. You can view the list online. WARN is a US labor law.
@1sro+16buWAQo the 60-day warn notice depends on the state you are in. NC does not have this I don't believe.
They are using the rating scale to assist in stack ranking to determine layoffs. They aren’t trying to fire everyone with no severance. This initiative will take years.
Okay here is the real deal I use to make packages. First off if you are laid off you will get a 60 day work/ non work notice. Managers and team members are usually required to work the 2 months where as hourly employees such as admins get the option. Then after that 60 days you get 2 weeks for every year. Year end and mid year ratings do not matter you will get a package if you are laid off, period. The bank doesn’t do some and not others do to the fact we’d have a million more lawsuits. If you are terminated you don’t get anything but a swift kick in the rear.
2 weeks per year of employment, however in order to collect you must sign away your right to sue. There will be a form in your package. Pretty sure the minimum is six weeks.
Handbook chapter 14. Severance is referred to as "salary continuation pay" and is contingent on all kinds of conditions that must be satisfied, i.e., the employer has all the leverage and all kinds of reasons to deny and limit payouts.
Suing an employer for wrongful termination has requirements, such as you were fired for being a particular religion. Most states are at will employment, and a reason to fire you doesn’t have to be given. Your performance rating is not a valid employment tort.
People receiving a 1 or 2 should be concerned about being fired and being laid off, because they are being told that they are not good at their job.
Severance agreements are not in law, they are a fringe benefit that helps the company by reducing litigation risk and muzzling disgruntled employees. It is not an entitlement.
Legally speaking, if you can prove your previous evaluations are mostly 4-5 but just this time you get 1/2 and that rating makes you fired, then Wells can be in another lawsuit. This one will be a really bad one since the media really love reporting such stories.
Hopefully they are smart enough to avoid doing this.
Many states are right to work and no need to justify firing you. Looks bad from a PR standpoint but at this point does it matter as bad as wells looks right now anyways?
Let’s say that you have been rated “meets” every year for the last 7 or 8 years including last year-end review. Now they rate you “inconsistently meets” at mid-year because they want to get rid of a bunch of people. I don’t know, I think they could get nailed for that. I certainly won’t go down quietly if they deny me severance or unemployment.
if you are rated less than meets they will claim that as justification to fire you for cause. No severance, no unemployment.
Thanks. I did look at the employee handbook but didn’t see anything. Will check again.
It's 2 weeks per full year of employment. You'll continue to be paid bi-weekly. There is a minimum but I can't recall what it is right now, maybe 8 weeks though. If you get a job after you're laid off that has benefits, you can write a letter to get a lump sum payout of any remaining severance. You'll get a 60 day paid notice period. That period may be working or non-working, but you'll still get paid.
It's all in the employee handbook by the way.