Last week I continually said 8/25 would never be a lay off day because it is a Tuesday. I was wrong and right. David Galloresse presented the next steps that made everything clear. Tuesday the 25th Managers will be notified by email any team members they have who will be let go. Those team members will get invites for calls with their manager and a HR specialist for either Thursday or Friday. The laid off team member will get a fed ex prior to the call so that delivery will dictate your invite. Team members who are being laid off verified their current addresses this month or last when the bank asked them to verify some tax form. I’m just an EA so that part I didn’t quite get, but it sounded like an email went out asking people to log on to their W-4 and verify it was current name address etc were current. Another odd item was discussed. People keep saying Jamie the devil Moldafsky is being let go, but I’m sad to say that might not actually happen. Her job and title change sounds like she is being layered not laid off... Sad face emoji.
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Thanks for sharing the information. We love you.
OP - Was there an OC meeting today? Any updates about this week?
Severance is referred to as separation pay in Employee Handbook.
Thank goodness PTO is considered compensation/wages in CA. State offers many protections (incl. Covered CA insurance) for residents.
Now if I could just keep my house from burning down and the air from being toxic with ash...
@1ulo+16va3CFA Displaced is the newspeak replacement for laid off. Severance is what they pay you based on tenure when let go
Has anyone heard about specific groups, like Supply Chain?
The spontaneity of a lay-off is ironically lost with the COVID shutdown
I got an email to verify my W-4 back in January as part of tax season.
I work in IT, I haven't see emails for W-4's lately.
It could just be HR at Wells has been asleep at the wheel for years and years.
"Also "hold your temper". Hold your emotions, don't let them see you "cry".
This is very good advice. Leave on the best terms you can. It may seem unfair, but life is long, and you'd be surprised how many times in your career your going to run into someone from a past job.
I got an email to verify my W-4 back in January as part of tax season.
I work in IT, I haven't see emails for W-4's lately.
It could just be HR at Wells has been asleep at the wheel for years and years.
I was not suspicious of the email about the W4. It seemed a necessary thing to do to align the taxes with the state of residence and the state of employment, which are different for me. However I am suspicious of unplanned meetings, requests to gather information about me, etc. in fear of a layoff.
Having been laid off at a former banking company, a long time ago now, I will tell you it is not "pretty". Yes, there is some severance pay but then you have to quick find another job around the town/city that you live in and there may not be any new jobs available close to where you live. I found a new job during the severance pay period, but it was over an hour and a half drive from where I lived. Eventually had to sell the house and move away to a different city where I found a much better paying job long term job market. Much hardship endured.
Also "hold your temper". Hold your emotions, don't let them see you "cry". One of my former team members from that bank was told to attend a layoff meeting (a year before I got laid off too). He 'lost it" emotionally during the meeting I was told. Became angry, belligerent, somewhat aggressive or whatever. They called the bank internal security guards to come and extract him from that layoff meeting and walk him out the door for his final time. Not a good way to get a reference from the company. He was such a nice person, so sorry that happened to him.
If expect your manager to hand you a tissue when they let you go and talk about your feelings then you are delusional and suffer from entitlement. Layoffs are about saving the company; they have nothing to do with you. If Wells is using an agency, HR will execute the plan as instructed. we all know Wells couldn’t coordinate something like this by relying on managers because everyone is always on PTO.
I was laid off from WFHM in 2013. I was also an admin asst at the time. We got a huge fedex box (300 employees at our office). I knew what they were before anyone else. We got a notification for a call. They told us the news. Me, my manager and an HR rep handed out packets which contained each individuals severance package (based purely on years of service). Manager gave a heartfelt speech, HR held meetings all day to answer questions. Managers sent home underperforming employees that day and continued to send people home over the next 60 days. I had to work the full 60 days and close down that office, in addition to shutting down each persons multiple accesses, and shipping their computer equipment. It was all civil. It s—ed but WF’s way of handling everything was very professional.
What is the difference between displacement and severance?
When I was displaced at the end of 2019 in the WFA retail Market reorg. the manager had to take displacement training and then he/she advised me of the displacement on a Thursday. You then receive the displacement paperwork via FedEx and are required to sign and return. The paperwork advises how long you will be on salary continuation and when that starts and ends, after the 60 day notice period. I'm sure that that is the way it will be done.
There will be a new chatbot available to answer all your HR questions while meeting with your manager
Tons of managers in risk and compliance being laid off 8/25
The package does indeed come via Fed Ex, and when I was displaced my boss was freaking out because HR didn't have my zip+4 in the system, and I assume there was concern I wouldn't get my package "in time". I think if you're over 40, you get longer to review your package for legal reasons. More than a month. It's just critical that you get it back to WF by the deadline or else it's null and void. My layoff was by phone, just like what's described here – mystery meeting appeared for later in the day. No HR on the call, but boss read from a script. I worked the first 30 of the 60 day "work out" period.
@zol+16va3CFA - depends. Some folks have to do the full 60 days, some folks do less than 60 days (handoff their work then leave) and some get locked out on the spot depending on what they have access to (DBA's etc.) - all depends on the job you do.
Standard process is that your manager calls you and reads from a script after which your package has to be received within 24 hours via FedEx. HR only processes the paperwork these days.
So does that mean that you get the Fed Ex package and have to ship everything back but still get 60 days notice of "not working" for security reasons? Most would still have to move out of their offices.
Also, would severance be discussed as well? I wonder what happens when you are in the middle of disputing your "low performance" ratings. The only person i know that this happened to was in IT with access to sensitive data. As a result, while talking to her manager, they were revoking access to databases. She could never log in after that but did get some form of package. Fed Ex package was delivered the next day.
OP Is a troll.
All my HR contacts are in Atlanta over 1,000 miles away from my location. Even if we weren’t WFH there’d be no way HR could do the meetings with us except maybe over the phone. I don’t see how they could handle the volume either, they can’t even respond to manager HR requests within a few days time they are usually so swamped.
@rem is correct. This time around your package comes after your are verbally notified by your Manager. And, some people will get their verbal notifications on 8/25.
i cant decide if i would prefer the package or to stay; work is very dated here, people are not so nice or maybe term is toxic
@rem+16va3CFA is 100% accurate. What may have happened 12 years ago has long since changed.
@niw - what happened in 2008 is not how it happens today. HR doesn't have enough people to do that anymore. manager does entire delivery, and there is training that any manager doing displacement must complete. Until COVID, if a manager was doing the displacement discussion in person, they could deliver the package to the manager... if it was by phone, they were fedexed after the discussion... now it is all remote, so packages get fedexed to arrive after the discussion takes place
Jamie M is out on 9/22. she has been public about that date.
Without a doubt the worst part, besides losing your job, is managers having to convey a decision they did not make and may not even agree with. It has the effect of insulating the decision makers from the impact of their choices.
@OP - I received a W-4 email back in March but it was telling me my work location did not match my home state. It says it was because my work location was updated from CIC to uptown and I needed to ensure my state tax reporting is accurate and my home address and W-4 state tax info are correct.
What @iaw+16va3CFA said is what I've seen for the past few rounds of layoffs for several years.
If not nice playing with people emotions and worries so I hope there is no troll here. Otherwise thanks to those who know and share with us
@iaw I was laid off from Wells in 2008 working under Margot Golding and when the ax came down Margot and a HR person were in the room. HR person gave me my packet and explained the severance details. Margot just explained I was being laid off due to economic downturn. HR lady explained the 60 day Warn work notice, she explained the STAR program etc. things my manager didn’t have the full understanding to legally explain (I’m guessing on that last part).
Poster is grossly inaccurate. Team members are notified during a meeting with their manager only. HR is NEVER present for these discussions. EVER. After that meeting with the manager, a Fedex package will be shipped overnight or second day from the Displacement Services team to TM's home address. NEVER does the package get sent prior to the conversation with the manager. EVER.
I am a manager with less than 7 direct reports and got the W4 email last week and posted about it. I knew immediately I was getting laid off when that came through to me.
Many have been saying for weeks it was the 25th. More confirmation. A quote of the year for original and first comment. Yup it’s true.
Sounds like an extremely convoluted process. Since it is, that leads me to believe it's probably accurate...