I had heard that we used to do a 30 days working, 30 days paid but not working. Now I’m hearing that it’s just get notice and you’re done that day?
21 replies (most recent on top)
I was laid off yesterday. I received 60 day notice non working with a severance of 2 weeks per year service capped at 52. Can not start another job before 60 days or it will be considered a resignation and you will lose your severance.
@3lmw+17ls8mHj yep. 4 years or less is 8 weeks. I forget where exactly I saw it. It was either the benefits handbook or from a search on the home page.
Woah, 8 weeks is minimum severance? Is that available anywhere? I looked at the team handbook and didn't see any mention of how severance is accrued.
I wish they had shown me the door immediately when I was laid off last year. I spent my 60 day working period trying to tie up loose ends and train the survivors how to do everything they would need to do without my assistance. I did my honest best to ensure a smooth transfer out of respect for my former team, and also because I didn't want to burn any bridges. You never know who you'll end up working with in the future. It was absolutely PURE HELL, way more stressful than I had imagined, and in retrospect I would actually consider it cruel. Had I been a different sort of person, there would have been a thousand ways I could have sabotaged things but instead they got their last pound of flesh from me. Letting me go quickly would have felt shocking, but would have been the kinder option. (probably why they didn't do it.)
I have this "special" network directory where I have saved all of the important stuff that I worked on for the past 8 years at Wells Fargo. There is some "legal hold" requirement on my body for possibly having information related to prior lawsuits, or some such thing, that I may have knowledge needed for potential legal action by the government. Totally unaware of what that could be. I have had ZERO involvement in the Wells Fargo "scandals", etc. I will not delete my "special" network directory if I am told that I am being laid off. They can trust me.
It’s changed Enterprise wide. The day you are displaced you leave. Confirmed by HR
The 60 days + pto? Non working?
It’s a deal!
Great non working us better; do we get our pto too?
MINI Warn in NY State is 90 Days
@2cnz+17ls8mHj is the WARN notice requirement and hss zero to do with severance. Because you started this year, you would also get the minimum severance - 8 weeks.
I thought it was just two weeks per year of service. As someone who started at Wells this year, I'd happily take a voluntary severance if it included 60 days on top of that. Is that for everyone?
https://www.wsj.com/articles/wells-fargo-ceo-finds-himself-on-defense-after-a-tough-first-year-11602149402
"Job cuts often happen on Tuesdays, according to people familiar with the matter, and a new policy instituted during Mr. Scharf’s tenure requires laid-off employees to leave immediately, instead of in 30 days."
I’ll take my 60 days upfront in cash
NY notice is 90 Days I think.
It's 60 day
8 weeks for 0-4 year
+2 weeks for additional years capped at 52
Regardless, if you get 30 days notice and 30 days job search, or they cut you that day...You still get the 60 days and a 2 weeks per year. If you were there 20 years, it's 10 months +2 for a total of 12. If you were here 10 years, it would be 5+2 (etc).
Assume it’s now non working period due to increased insider threat risk by keeping access for 30 days for people that could cause potential harm. Sounds like they’d rather not take the risk and pay for non working period longer
They make you leave right away so you don’t share your toxicity with the rest who are stuck picking up your work.
Yes, the fact that more folks are being shown the (virtual) door same-day was in the WSJ article earlier this week, although I don't think it spelled out why. I assume it's risk due to numbers being let go at once. In some cases, bosses and directs are being laid off at the same time. Amidst all that turmoil it might be harder to detect that a disgruntled displaced person is doing damage.
It’s still 60 days but have been heard lately it’s non working due to enhanced risks
It depends on your position, your manager/leadership, etc. Some people with sensitive access may be asked to leave that day and just be paid 60 days non-working period before severance starts. Others may work 30 days before their 30-day non working period.