I'm betting that the 401K change is just the first of many benefit downgrades to come. Have the health benefit prices been announced yet ?Bet the severance changes on Jan. 1 and then you will see most of the layoffs. I thank GOD everyday I was displaced last year with 52 weeks that takes me to retirement.
9 replies (most recent on top)
New employee or former employee: OP is speaking the truth.
He/she has as much of a right, probably more, to be on this board as the brand new employee with zero experience at Wells.
Post ID: @1hnd+17yshazL. Couldn’t agree more with the concept of constructive pushback. People are afraid to speak up. I get it, but regarding this change and everything else that is happening: the voice of many has a lot more power than the voice of one.
There is risk involved in everything, but imagine the power of 265,000 voices.
If you are no longer employed then why are you here? Seriously your near retirement go live instead of harboring anger toward a company that made your retirement possible.
This troll has been here before. My comment is the same
Congratulations on all your success being shown the door. Looks like you still don’t have anything better to do.
Been at Wells for many years and this is just the latest tactic to cut benefits costs. Wells use to have a great benefits package but with the 401k match going away, I’d now say their benefits are sub par. And they will keep taking benefits away. Mgt is banking in enough people being too lazy to find better jobs and so the cuts can help improve Wells’ earnings right away. If enough people start leaving, then HR will re-evaluate it’s benefits and bring them back up to market.
I told my boss that with this latest announcement that it was time I seriously looked at leaving. Financially this is a big impact for my family and I know other banks haven’t taken these kinds of steps. He understood and said he’d funnel my feedback to our hR consultant. I’d encourage everyone else to do the same. Enough pushback and maybe this gets reversed.
@fpv+17yshazL Jokes on you.
This dead weight has 21 years of market returns banked. The loss of a quarterly match is big, but I already have enough capital to make the hit less impactful.
You're the one getting the more raw deal. Go ahead and tell yourself you're sticking it to us long-time employees though.
New to this thread. I would rather hear from the OP, who no longer works here but is not an a–hole, than the 2 a–hole commenters below. Hoping you two do not work here either.
@OP+17yshazL you need to take all those bets to Vegas and lose that retirement. Your psuedo gaslighting is comical at best. If you actually knew anything you’d know that the 401k changes are indicative to corporate America and nothing new. Only new for the dead weight at Wells grandfathered into old, better plans because they’ve been here for decades safe and cushioned and it scares them. It’s all for naught as it is realistically good news for HCE’s since the company will pass the means test easier and retain talent through bolstering lower income earners retirement contributions automatically.
If you worked here you would know all this info. And if you were intelligent you would know the rules about severance. Go away