For those of you who have accepted a new position and requested the lump sum payout during the severance period, how long did it take until you received it? The plan says within 60 days…. Just wondering if they’ll drag it out wait until day 60 to pay me or if there’s hope to get it sooner.
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You'll get it in a week or so. There's no calculation, it's all automated.
Not related to that - the branch I worked at was closed completely earlier this year and the entire staff was displaced.
Does this pertain to branch operation associate managers who were put in the banker role?
Submitted my request & received this confirmation the same day - just hoping the payout will come sooner than later to be completely done with the bank.
This email serves as confirmation of receipt of your New Employment Notice (NEN) form and request for lump sum payout. You will receive further communication once your request has been approved and the lump sum is ready for processing.
As reflected in Section 2 of your Agreement and Release of Claims, your remaining severance will be paid in a lump sum within up to 60 days of Wells Fargo’s receipt of your New Employment Notice form. You will continue to receive your bi-weekly severance pay until the lump sum is paid.
Thank you for your patience and congratulations on your new employment!
Wells Fargo Enterprise Employee Relations | Displacements
I don't think they try to drag it out; I think the calculation is done manually and then has to be double-triple checked and then has to hit a payroll cycle. Did you submit the request yet?