My husband was told they are laying off /firing a large number of employees in the private bank department this Monday. He was told to put in his two weeks by Monday or get let go. Is he entitled to any kind of severance, Cobra, etc? I just wanted to give people the heads up.
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What happened to your husband. I have not heard of anyone being displaced today
Don’t they usually do layoffs either on Tuesdays or Thursdays. I never heard of WF doing them on a Monday
OP,
If things don't work out between you and @qey, let me know.
Maybe we can have some drinks and then share a sleeping bag or something.
Holla
Fake news. There is no one that actually works in the Private Bank anymore
OP. I'm not getting laid off so if your husband gets laid off and you want to leave him for someone with a job let me know.
If someone resigns I believe they can still get Cobra coverage, but not unemployment benefits. I would take the layoff.
Are you sure it was more of he was told to find something else or he'll be let go? I've heard that before, basically he's been given a heads up which is much better than every other layoff here.
On a side note, I'm not sure what The Private Bank department is anymore. If he's still claiming that, then the writing was on the wall. That org was the most mismanaged group in the firm from an expense side.
Hasn’t happened to my team, yet. We must be on the privileged team. Where what we do is actually important, In someone’s eyes.
Will he get severance if they consider it a firing instead of a lay off? His manager said 10 other employees on his immediate team will also be let go.
Okay, WHO keeps blowing up the bathrooms??? Don’t y’all have toilets at home?
I’ve been working with lawyers for years. Get a lawyer. The lawyer will help negotiate an out-of-court settlement higher than anything you can do on your own. With all the scandals and drama, It’s open season for this company. This company doesn’t have any more friends. Anybody and everybody can go after this company, now.
Have him print out the request or take a picture of it. It does sound like they are setting him up to fire him. Let them fire him and let him file unemployment. Sometimes companies will not challenge an unemployment filing even if employee was fired for "just" cause - especially if the company has a terrible reputation for laying people off. Also, in a firing, companies will offer some kind of severance (pay + COBRA) and hope that individual will not sue as it will rack up very high legal bills that companies will have to pay on.
In this economy, the Courts tend to be more sympathetic to employees. Make it hard on the company to get rid of the employees.
LOL! Sounds to me like he’s going to get fired, not laid off. The only reason someone would tell him to resign is because he’s losing that job for reasons other than a layoff, meaning involuntary termination with cause.
Tell him absolutely DO NOT RESIGN. If he is being laid off, he is entitled to severance, Cobra, and later unemployment.
If he resigns, he gets nothing.
TPB related teams are getting notice? Yay! There’s hope for me yet. Though, I think I’m too big to fail/laid off. Thinking about it, if they’re laying off the teams that manage our most precious clients, something big must be going down. Exciting.
OMG. Whoever told him to resign needs a quick kick in the a-s.
If your husband gets laid off he gets severance; if he puts in his Notice he’s resigning with no severance. I would question why anyone would tell him to resign. It’s not. Black mark to be laid off, things happen. He’d be eligible for unemployment in addition to severance if you’re laid off- neither if he resigns.
Whoever told him to put in notice was as a-ho-e. Stay until you get the package. Don’t give it away.
@fxg. Great advice. You are 100% correct. He will get unemployment if in California.
DO NOT RESIGN! If your husband is getting laid off, then he gets severance and possibly unemployment. If he resigns, he gets nothing. Hang in there.