Thread regarding Wells Fargo & Co. layoffs

In the grand scheme, matches/bonuses aren't especially relevant. Negotiate what you can with your new employer and leave now.

If you can't find this information.....you should be laid off.

if you are resigning before 12/15 you don't get the match

If you are resigning before bonus payout (first week of feb) you don't get the bonus.

If you retire (meeting WF requirements for years of service and age) you get a prorated bonus.

If you are displaced you get a prorated bonus.

If OP is leaving for another job and not retirement eligible, they forfeit bonus. Negotiate buy out with your next employer.

@ 1kwa you're right but off topic from the posters question, which is why I didn't mention layoff related..they're choosing to leave and are questioning eligibility; in that scenario unless they can officially retire, my answer was correct

I can confirm that displaced employees get a prorated bonus. Former Tech manager (not at WF anymore) who had a displacement in November 2020 and the bonus was given to the displaced person in 2021.

@1skw+1dcidoeN’s response about prorated bonus is incorrect. Prorated bonuses are also given to those who were displaced (so long as their notice period, regardless if it was non-working extended to at least 3 months of the year) and same with those who are part of a divestiture. It’s not just for retirees.

The only way you get a prorated bonus is if you qualify to retire. Otherwise you need to be an active employee as of the bonus payout date.

If you’d like to qualify for a prorated bonus your start date must be somewhere around Oct 16 (or earlier). Double check the handbook.

401k is 12/15. Bonus is 1/29 as that’s the end of the payroll period and bonuses (as well as your regular pay) are paid in the check on 2/4 that covers the payroll period of 1/16 - 1/29.

Same as @xpx. If I have to go into the office for 3 weeks to get my bonus and leave for a remote job, then that’s what I’ll do.

401k is 12/15; bonus is as of payout date (first week in feb)

401k at the end of the year, bonus as of the February payout. Sorry; if you have an offer now you'd better get a sign-on bonus to cover what you'll leave on the table.

Yes for both

I am staying until the bonus is in my paycheck, not taking any chances!