I know a lot of people that have received 2's for no reason other than the "Rank and Yank" guided distribution and had nothing to do with performance. Are these people getting terminated, so WF doesn't have to pay severance or are they still getting offered a severance package? I've heard some were "terminated" so that the Company doesn't have to pay severance.... just another way to be unethical and not pay people. Has anyone heard anything?
6 replies (most recent on top)
Year end performance evaluations were entered in October, but won't be delivered until January so you'll have to wait to find out your rating.
WF as the employer has quite a bit of discretion on paying severance and the conditions that must be met, but the TYPICAL employer generally provides some severance as long as employee acts in good faith – no misconduct, no termination for cause (dishonesty, lying, cheating, failing d–g test, breach of duty, not following company policies, harassment, etc.).
"Low performance" by itself would not automatically mean "no severance" (aka "salary continuation" in Wells Fargo lingo). Low Performance plus some act of misconduct is a reason to not offer severance.
They are asked to do some thing similar to a bell curve, to force bad ratings to those who are not deserving. Now the badgering and toxicity is that an all-time high, so you were either forced to quit or be absolutely miserable. They want to keep the threes and fours for their buddies and let the people who actually do work leave. This way they can keep the culture going in the wrong direction.
How do you know what your evaluation was October 14? My manager didn't tell me mine.
I've not been given my year end evaluation. Wish I knew my number
reviews are final till end of year so whatever was submitted into system on oct 14 would have no bearing on getting the axe today. there are plenty of people who are ranked meet+ who are being let go.