Remove all PI
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"They reduced notice from 60 to 45 days"
Is that true?
They reduced notice from 60 to 45 days
Thanks Chainsaw, hope that $.01 increase in your stock is worth screwing over tens of thousands of people
The agreement also says that by signing it, you agree not to say anything negative about the company that would damage its reputation. No big deal since WF does a great job of that on its own.
You don't give up your severance if you get a new job. They will pay remaining severance as a lump sum in that case. Remember too that the document you sign saying you won't sue Wells Fargo is not enforceable in court. Lots of precedence that you signed it under duress. To be successful suing though you need a valid documented reason like age discrimination, retribution, etc.
You can apply for jobs internally through Teamworks at Home (not only through your work computer)!
I quit on my terms. Gave two weeks and GTFO. This company wasn't worth getting laid off from. How is has any employees left that want to even work here, is beyond me.
If access is removed the day of layoff how ppl can continue applying internally?
rez wrong!!!! When you leave, you sign a release, if you do not sign it, you get no severance, I know, I have a suit and was laid off.
You only give up your severance if you return to Wells. The First 60 days you are still employed and yes they take away access now the day off, except in certain cases. It use to be 30 days on the job, then 30 days on "garden" leave.
@uql wrong
Keep in mind, all of these numbers are based on you signing a release that you will not sue Wells now or in the future for anything, if you have any actions of any type pending or think you will in the future, you get NOTHING!!!!!!!!!
up to 4 years you get 8 weeks severance regardless, 5+ years it is 2 weeks for each year of service up to 26 years or 52 weeks. anything over 26 years is 52 weeks
I have been at Wells just shy of 2 years. For 1 or 2 years the SPD says 8 weeks. Not sure I am understanding where 2 weeks for every year comes in?
I thought that they changed it from being a salary continuation (paid every two weeks) to being just a single lump sum payment at the beginning of the termination.
Once you are told about your layoff your “notice period” begins. That notice can be 30 days or 60 days. You are still employed but typically not working as they take your access away right away. During that time you can actively seek another job in wells and will still be paid. After the notification period ends the severance begins. You will be paid 2 weeks for every year of service on regular pay periods. You’ll still get all your health benefits as before. Severance maxes out at 26 years of service. If you find work before the severance ends, you can submit in writing notification of employment elsewhere and the remaining severance is paid out in a lump sum.
I’m reviewing the severance policy now as I’m thinking I’m next on the target list
Severance pay, or supplemental unemployment benefit?
unless your am executive you can find everything you need to know in the employee handbook. basically you get 2 weeks severance per year of service up to a max amount which is roughly a years worth of severance. they also are required to give you a 60 day notice period and can keep you working but lately it seems they shut off your access day of and just keep you employed but not working during that time. because you are still considered an employee during that 60 days I believe you you accept a job outside wells you give up your severance, but would need someone to confirm that.