How many are waiting for the bonus payout and then leaving or considering to leave? I'm sure there are some who have worked hard and do the right thing to help the company move forward. However with less resources and the company expecting more, it's hard to do it all. I'm heavily considering leaving due to the toll the demands have taken and honestly it has me considering other opportunities. Is anyone else in the same position?
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Me. If its ok I may hang till May, if not 2 week notice.
https://www.thelayoff.com/t/18jzkAaE#
Did anyone sign the e signature at the end of the displacement packet
: @1bjr is incorrect. It’s still a 60 day notice period- just classified as “non working” vs they used to do a “working” 60 days. Just means you’re still employed for 60 days and will get severance benefits starting after the 60 day notice period is up, as long as you still qualify.
First of all the 60 days takes effect immediately when you are displaced. No more “working notice” that your job will end in 60 days. You receive severance pay bi-weekly . If you obtain a new job while receiving severance, you can request a lump sum payout of remaining severance.
This is all in the Benefits book - chapter 14, which is online on Teamwork’s
If you are rated below Meets I wouldn’t expect any merit and less than half your normal bonus if you are eligible. Not much incentive to stick around and upper mgmt wants it that way.
I assumed this was everyone plan who was competent. Counting on my to be knocked down at least a level from what I was told and my bonus to go down with it, but it’s still enough to stick around another 2 months. Probably try to start interviewing as soon as other shops post 2021 budgeted roles, take the money and run. Only problem is I know that is I’ll be competing with half the people I work with for that pool of jobs.
This makes me think of other threads where it was being discussed that management wanted to create attrition.
If that’s true, announcing no bonuses at all and a big cut to the severance program would create some of type of exodus.
It makes me wonder, just exactly what is management doing? Do they even know?
Leaving. Not counting on a bonus even if there is one this year because I have not been doing my best work.
No motivation from management, IT is going backwards, and no reason to want this bank to succeed after they way they've behaved.
I'm already looking but I plan to stick around until at least I know what my bonus will be. If they come in low with bonuses, the incentive to wait until it pays will be nil. Better to make a move if something is out there than wait around.
I'm at the 10% bonus level, and have got at least 8% every year for the last dozen years.
My manager said that we probably would not be getting any bonus next year. COVID has become the universal excuse.
I was considering but so far, my pay and bonus is higher than what peers pay for similar positions so I’m staying out until things get unbearable. Not worth taking a 25k plus pay cut. Citi, for instance pays a quarter of the bonus I would get here. I see posts from people here saying they left and made more but after interviewing elsewhere my guess is they must be in lower level jobs because my position certainly is paid higher than peers pay.
@nob+18jzkAaE - I'm waiting for whatever bonus we may have paid in Feb. If I knew o was being laid off, I would definitely wait, but there's no guarantee that I will be laid off. Also with talks of the severance package changing at the first of the year to being one week = one year, it gives no extra incentive to wait around for an attractive severance package.
I thought the payout date was in February of 2021. They consolidated it across the firm. Did this change?
Yes. He gone.
The last quarterly bonus I got before being displaced was pitiful. They changed the way branches are rated with the new customer surveys and basically k–led the bonus.
I'm leaving , the sign on bonus is much bigger than what wells pays yearly. Plus pay increase alone will cover it.
Issue is things are too old here and if i stay too long may be career ending. Have not seen any hint of things moving forward only discussion about it but not real action
I wouldn’t be surprised if we didn’t get bonuses this year
LOL...that is my plan every year. For 2020 we had a small stock grant that vested in Feb so I waited for that along with the bonus in March. I did some interviews but with COVID hitting my thought process changed for this year. But to answer the question, YES, I make plans to leave each and every year and it is getting to where I'm not even going to worry about the timing of the bonus.
Waiting for them to cut the severance check. There’s going to be way more consolidations of positions or branches. Just wish they wouldn't take their sweet time and just move forward on the branch side.
I am not sure if this was answered in another post...but how would that work? WFC has to pay the 2 month period before severance kicks in. If you leave prior to the 2 months you forfeit the severance. However, I was under the impression that WFC wants to pay that severance biweekly for however many weeks you are due.. How do you tell them to pay up front? Do you have to have another job?
I don't get a bonus.
I am