I have something lined up, I had a feeling the day they would lay people off would be coming soon, and I was right. Luckily for me I applied to another company in November and I got a job offer last week. Waiting to do a few things before it’s completely official. So my main question is how the hell would Wells Fargo know that I’m working elsewhere and forfeit my severance pay. Makes zero sense
64 replies (most recent on top)
@ynd+18idrG2W you must not have looked for jobs in the last decade. No future employer will contact your current employer unless you allow it. There are legal ramifications for putting a current job at risk. Go back to filing unemployment denials hr flack.
How can the shop owner know if I take this candy from his back shelf?! How can the IRS know if I participate in a cash transaction (or venmo or bitcoin)?!!
Here's the other thing. If WF decides to cancel your severance, that means the contract requirements for both sides are null and void. The whole point of the severance is for you to keep your mouth shut. If the contract is void, then you have no legal obligation to keep your mouth shut or even file frivolous lawsuits against WF. Everyone is asking why the layoffs aren't getting more attention. The reason is because the severed employee has a contractual requirement not to talk. Do you really think WF wants to go down that road just to collect $6000 - $10000 that was already budgeted as an expense?
Nearly all job applications inform you that the company will be doing a background check on you. You are usually required to acknowledge this – most folks do it without even reading it. Not sure of your destination, but especially if it's a bank.... good luck refusing. Would you hire someone who would not permit a background check to verify accuracy of their resume? Someone who refused to supply a reference when asked? But hey, you do you.
@utf+18idrG2W You're talking out of your @ss. They cannot run a background check unless they have your permission. That is the law. That two hour seminar you sat through does not make you an expert on HR.
@xmn+18idrG2W the FCRA - look it up. They can't run a report without your permission. Period.
I’m going to make my point one more time.
Severance agreements are not about ethics. They are contracts. Various opinions of the bank are irrelevant.
Read the agreement, understand the consequences of your choices. The opinions of people on the internet who have no expertise in contracts and are definitely not in possession of law degrees are not relevant.
Your new employer and Wells Fargo do not need special permission to get information about you, once you turn over your SSN that’s it. If your new employer learns your status, they will make their own decisions about you.
@wuh+18idrG2W You tell them they can't contact your current employer. During the interview process, if they ask why you are leaving (and it's post layoff notice), tell them that while you are still employed, it doesn't look good, but you don't want to put the job you have at jeopardy. No potential employer will contact your current employer unless you let them. If they need proof of employment, offer your w-2.
So, you've been laid off? If so, you just have to wait the 60 days and you'll get your severance in a lump sum. It sounds like you don't have a signed offer letter yet, so will this really be such a big deal?
You don't have to demand a lump sum, as some seem to be suggesting. If you accept a position that offers benefits you are required to inform Wells, so they can cut you a check and end your COBRA.
Better for WF to get you off the books now rather than later, and hopefully you could negotiate your start date with your new employer.
If you are proposing working your new job during the 60 day non-working period rather than forgoing severance, seems risky. Does your new employer do a background check? If so, they'll likely find out, and Wells could too.
Don't try to game the system. Too much at risk. Just do the right thing, and enjoy your new job.
Been there and done that. Just don’t say anything. If they find out and stop payments than oh well.
But 99.9% sure they won’t. They never did for any of our 200 people that I was aware of.
@ogf I'm not in HR. It's common sense to not break a contract due to the legal ramifications. If there are grievances or you don't like the terms of the contract, don't sign. You are not entitled to anything.
If I were laid off, i would find employment elsewhere and move on with my life. I've saved enough to survive years of unemployment, but developed skills (at WF) to attract offers from other employers.
The mentality on this board is also part of the reason WF has suffered for years.
- in my humble opinion.
@qwb+18idrG2W ok HR.
Does it say that if you find a job you give up your severance package? If so, what's the issue? You are legally bound to that contract you signed. You can't have both...whether you should or shouldn't is a separate topic of discussion.
It doesn't matter if WF knows or not, it matters that YOU know.
@drz+18idrG2W "ethics"? Seriously, no one should put WF and ethics in the same sentence. The bank has been underhanded and deceptive with employees and customers. They deserve nothing. You don't have to prove anything to them as far as the start date. Tell them it's none of their business (which it's not), you just want the lump sum (which you are permitted to ask for, even if you don't have another job yet). Why would they want to continue paying benefits for you during the severance payout period? It would cost them more, not less.
It might be a long shot but if you can't delay starting at a new place and are worried about losing the severance then maybe you can be an unpaid volunteer at the new place. You won't be double dipping and can get up to speed. I doubt most employers would go for that but food for thought. Best wishes for all in this unfortunate spot.
Here we go again.... Wells Fargo, the symbol of corruption and dysfunctional behavior, wanting to enforce ethical behavior on others using questionable contractual clauses. It smells like fake customer accounts.
I’m for you taking the new job. My only potential concern would be if the new company would call WFC to verify your employment?
Wells Fargo uses a company called “The Work Number”.
Look it up.
Taking alternate employment during your 60 day notice is the same as quitting. Your severance agreement is a contract. Breaching a contract has consequences, no matter how much you hate the other party to the contract.
You would certainly forfeit the lump sum severance opportunity because you have to provide evidence that you started a new job. That evidence would include a start date during the notice period.
Ethics would also be a concern. Delaying a start date by 60 days or less is not a big deal, especially when you explain why. The delay would likely be a good break (mentally) for most individuals. Being honest would also be a good sign to the hiring manager and future teammates that you are ethical.
Don’t update LinkedIn just yet :)
yea that sounds illegal like opening fake accounts;
They wouldn’t know. Don’t tell anyone and keep it moving. Shame on WF for requiring such an absurd clause after they toss people out the door.
Personally I would not worry about it. Congrats on the new job. I would not tell ANYONE you have a new position
Was wondering the same thing too. How can they know?