Does anyone know FIRST HAND of any plans to reduce the severance package?
16 replies (most recent on top)
@1dyg sounds like Qbert spuing idiocy.
I asked on a town Hall. HR lady said it was fake news.
On full display for all to see… a demented product of the failed San Fran Sicko public education system and brainwashed college system. No wonder Wells has fallen so far, so fast, with clueless tools who are all too happy to enthusiastically jump into any new corrupt scheme
If you were terminated (displaced), they can rehire you at any time. If you left on your own terms, yes, one year before firm can rehire you.
@1xmr+1aOaEvUU, thanks probably more lies from the management here about the duration; no surprise. You know they are lying when their lips move.
my speculation, but i think severance policies are reviewed annually and if there is a change it would be at the beginning of the new year. Severance policies don't change in the middle of a year randomly.
@1gse+1aOaEvUU, I know someone who was gone less than a month and then came back
someone told me you have to be gone 1 year before you come back, is this not true?
If you are hired back, within 6 months of your termination date, you will be grandfathered back regarding your PTO, tenure, etc. If you are displaced again, you will get the severence package again based on your grandfathered time at firm.
how long do you have to be gone to go back to work here?
Whereas if the QAnon crowd gets their way, nobody gets a package unless they are blue bloods otherwise they are taken out and shot to save money.
I don’t have any first hand knowledge, but it wouldn’t surprise me. The C-suite would probably rather have attrition to minimize layoffs. Changing the severance benefit may cause more people to voluntarily leave. But if they were to do it, I would guess it would be revised in the 2022 benefits book and maybe announced 60-90 days before 2021 year-end.
If you are rehired by WFC after a short time, grandfathered into the same benefits (PTO, etc..) and after a few years displaced again. Are you entitled to a second package?
Packages that have gone out in the last couple of months show no changes...but who knows of changes are planned. Honestly I don't expect there to be changes on this front the next couple of years. To much potential for bad PR during an era of mass layoffs. My guess is they'll have a couple years of downsizing and then change the policy, so it impacts a much smaller group of people and is less likely to cause issues. Just a guess.
I was displaced in March. Worked at wf for over 35 years. Recd 12 months of severance.
It's a safe bet that the very few people who would actually know this would never post here.