Some of us need this job. I might not like Wells Fargo or its management, but currently, I'm not in a situation that'd allow me to leave or even worse, lose my job without having a backup ready. If you're only staying for severance, that means you have options. If you keep threatening you're going to quit and accept the offer you got, again, that means you have options. The more of you decide to act on those options, the less the rest of us will have to worry about being laid off. You obviously don't want to be here, so please, do everybody a favor and leave.
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So the OP here is telling others to GTFO because they hate it here and apparently have options while the OP also apparently hates it here and is only staying because they feel they no options.
@1yeg+1iyLisQS No severance means no signed agreement not to sue. Go find a good labor law attorney. Unemployment is not the only thing WF doesn’t challenge. You’ll get a settlement- especially with that tenure. You are highly likely to be in a protected legal class.
Get a good lawyer though, not the equivalent of a severance ambulance chaser and try to get a contingency agreement only with no more than 30% of settlement or judgement, including fees. Lawyers will nickel and dime you for overnight documents, copies, phone charges - it’s stupid. You can get an agreement with fees included in contingency and not billed separately.
Good luck!
OP, I was on this board back in 2020 asking the same thing. If you don't want to be here, leave so that the rest of us who want to be here will have a job.
Guess what? I got laid off in 2021. It took me a while to find another job, and I mean A WHILE! However, I did finally land. If it happens, life goes on. Dust yourself off, and get up again.
I was pushed out after 33 years, and told there would be no severance because the employee handbook has been changed to say that ONLY a geographic change to where the works must be done qualified as a substantial position change. For what it’s worth, after I quit against my will, I decided to just apply for unemployment. They gave it to me no problem! Unemployment said that WF doesn’t bother to dispute - very rarely anyway. So I will at least get 6 months unemployment but it’s nothing compared to the happy retirement I had worked toward for so long.
I’m sorry to say, OP, you are operating under a false premise. Even with voluntary attrition layoffs will continue apace.
You’re actually better off when people stay to diffuse the people they choose to lay off. Less of you to choose from and your odds of being let go rise.
It’s incredibly stressful and I’m sorry you’re feeling the way you are. Remember that things are not always as bad as they seem and bad times don’t last for as long as you think they will.
It’s sad to hear that you’ve got yourself in this kind of predicament that you need this job. You’re better than that. You just haven’t quite realized your self-worth, yet.Determine when you want to stop going through life without a plan. Think about it. Once you begin a plan and implement it, You’re on your road to success.
Not leaving until I get my severance.I was a star employee for years. Suddenly, company reorgs occur. Now I’m left behind in the virtual broom closet With lethargic leadership.. Virtually everyone who knew my worth was managed out of the company. Nobody knows me, now. I’d be stupid to walk away from a six-figure severance.
OP, I sympathize with you to a certain extent. We are ALL victims of Wells Fargo Senior Management. (To those who are happy working here, I tip my hat to you.)
The message I would like to send to every employee is that we should not put the blame, or the responsibility for each other’s survival, on each other. The responsibility for turning this titanic of a disaster around lies squarely on the shoulders of the Captain and his first mates. And I can guarantee you that Charlie and his Senior “Leadership” team are all feasting while the rest of us (including the shareholders) are getting the bare minimum scraps.
Charlie and out BOD have the power to get us out from under the Asset Cap, then grow the bank, improve the bank’s technology, set the proper tone for ethics and compliance, and set us all on a path to success.
The problem is that the longer they stall: the longer they get to ride the money train.
Shareholders need to start demanding that we get Charlie and the BOD removed for failure to perform their fiduciary responsibilities.
Re:
“You guys have no idea how this works. There’s an asset cap and more than one consent order. They don’t HAVE enough money to pay severance to everyone who wants to leave and get severance. There is no way. Hence, no volunteering for severance.”
Charlie wasted $20,000,0000,000 on corporate stock buybacks this year alone. ****
That’s $20 Billion.**** He artificially ran the stock up, continued to pay top prices for the stock (essentially running the stock price up on himself, d-mb and d-mber) and now the price has come right back down to where it was before he started.
Don’t fall for the bs. Shareholders, especially, should not fall for the bs. Charlie is stealing from us all in plain sight. He is banking on the fact that we’re all too naive and too distracted to pay attention. aka Bernie Madoff, who got defrauded people for 20 years.
WFC can afford voluntary severance packages.
Talk to the C-Suite.
Voluntary severance packages are the way to go.
We want out. They want us out.
Smarter CEOs at better companies are doing it.
Stop playing around, and pay us.
It would cost Wells big bucks to offer severance packages versus laying off. That is too easy and would have been implemented by now. Good thought, however. I'd like to see them offer it as well. It has also been discussed on this site a few times.
OP, I couldn't agree with you more. Thank you for your input.
I like my job, I like my boss, I like my team, I like my salary, I like my PTO.
I have no reason to leave WF.
And IF you go in, should you turn left or right...
or right-and-three-quarters? Or, maybe, not quite?
Or go around back and sneak in from behind?
Simple it's not, I'm afraid you will find,
for a mind-maker-upper to make up his mind.
You can get so confused
that you'll start in to race
down long wiggled roads at a break-necking pace
and grind on for miles cross weirdish wild space,
headed, I fear, toward a most useless place.
The Waiting Place...
...for people just waiting.
Waiting for a train to go
or a bus to come, or a plane to go
or the mail to come, or the rain to go
or the phone to ring, or the snow to snow
or the waiting around for a Yes or No
or waiting for their hair to grow.
Everyone is just waiting.
Waiting for the fish to bite
or waiting for the wind to fly a kite
or waiting around for Friday night
or waiting, perhaps, for their Uncle Jake
or a pot to boil, or a Better Break
or a string of pearls, or a pair of pants
or a wig with curls, or Another Chance.
Everyone is just waiting.
NO!
That's not for you!
Somehow you'll escape
all that waiting and staying
You'll find the bright places
where Bo-m Bands are playing.
With banner flip-flapping,
once more you'll ride high!
Ready for anything under the sky.
Ready because you're that kind of a guy!
- “Oh, the Places You’ll Go!” by Dr. Seuss
I want my divorce settlement. Wells Fargo quiet fired me. I quiet quit them. They’re sleeping in the bedroom. I’m sleeping on the couch. We both pretend the other doesn’t exist. They can keep the kids. They’re the milkman’s anyway. 🤷🏻
“ Stop playing around, and pay us.”
You guys have no idea how this works. There’s an asset cap and more than one consent order. They don’t HAVE enough money to pay severance to everyone who wants to leave and get severance. There is no way. Hence, no volunteering for severance.
I know it sounds like the $20 million that Charlie makes would easily cover it, but when I crunch the numbers and the number of weeks of severance I’d get (plus 60 days paid notice period), Charlie’s $20 million would only cover paying severance to about a few hundred people, which is no where close to the number of people they say they want to get rid of. They can’t paid out all the severance packages, so they have to be selected where those are given (real estate market is tanking so better save severance $ for mortgage team members…er, employees). I agree we’ve given a lot to be treated quite poorly, but making people miserable is one of the few options they have to get high enough numbers of people to leave. It stinks. A lot. But it’s reality.
Charlie thinks he can squeeze us out without a severance by making us miserable.
If he wants to see who can make who more miserable: I accept that challenge.
*Great way to run a company, Charlie 😉.
Talk to the C-Suite.
Voluntary severance packages are the way to go.
We want out. They want us out.
Smarter CEOs at better companies are doing it.
Stop playing around, and pay us.
After spending years or decades busting your a*s for a company and then suddenly being treated like sh’t, a severance package seems fair
"...allow me to leave...' no one has you in chains keeping you here. Or are you here on a work visa? Don't be lazy, go find your next opportunity. Sorry but life is a participatory event. It takes effort. Don't hope for others to perform actions for your benefit. If people have the stomach to wait these ruthless, soulless lackeys of Chuckie, more power to them.
Lets see here.
They threaten to leave and get a raise. So that's good for them.
You want them to leave, so you don't get fired. So that's good for you.
Do I understand correctly?