Do not sign anything, hire lawyer right away!
21 replies (most recent on top)
Spend an hour with an employment lawyer. I did. He confirmed I got nothing unless there is some smoking g-n I had (which I didn't). Each situation varies but best to smile and walk IMO (yrmv).
Negotiation requires leverage. You have none. Take it, be grateful for it, and run.
@ay Hey Buddy-you fail to understand the basics of negotiation and the basics of the legal system. SO SAD.
Hey geniuses like @a2+1kf4hykhe---WTF are up talking about? Stop talking out of your A=S=S about "2.5k plus court costs"? You got no clue about lawyers or legal fees. The key is "flat-fee" -- costs a pittance for employment attorney to review.
But that said, about the only room for negotiation is request to strike all predatory "the employee must pay attorneys fees" clauses Wells Fargo tries to slip into their dense word salad of severance offer.
Very Unlikely severance offer will be pulled for "reasonable" negotiation - but don't expect anything to sweeten the deal either.
Again, the severance offers are made because Wells Fargo does not want any future legal claims. Depending on your title, position, etc -- it may be high stakes poker and maybe worth the hassle. Or if it's low stakes, then no shame in caving in and just taking the cash.
@OP they'll rescind that severance offer so fast your head will spin. This is ridiculous. Be thankful as they sound generous.
Not really. Its not "severance" its a 73 billion page non disclosure and agreement not to sue.
You can really only negotiate if you have some information about skeletons in the closet. Most dont.
Technically the company doesnt owe you anything; and they make sure you get an IM or NM rating before they let you go rating, so they can claim "cause" if you decide to fight it. You also get 60 days to look for another job (some people do get one and return).
Not quite... Check your employee handbook.
"...There may be times when displacement or substantial position changes are necessary for business reasons. If this happens, affected participants are given advance written notice whenever possible and are provided assistance in locating other suitable positions; in the case of employees who are returning from Medical Leave with no position and no job reinstatement protection, job reassignment assistance is provided to help find or be placed into a suitable position. The Wells Fargo & Company Severance Plan (the Plan) is designed to provide post termination severance benefits to assist eligible employees in these situations while they are seeking new employment...
...Following your termination of employment, you will receive biweekly post-termination severance payments on Wells Fargo’s regularly scheduled paydays based on your completed years of service when the notice period ends and..."
Yes, things can change, but if they suddenly tomorrow decided to stop paying as they do today, an argument could be made that employees cut now under the same action deserve to be paid the same as those cut for the past 5 years. Trusting in the plan's existence is what's keep many workers at WF. If the plan went away tomorrow, employees would leave in droves.
@bg - you are an id--t. We know you supported the orange tird.
If you have compromising information about employees or company practices, you can negotiate. I know people that have done that.
The OP probably isn’t even a WF employee but rather a lawyer. All he stated was did you know it’s negotiable, hire a lawyer.
$2500 seems like a small fee to pay to fsck with WF for a severance they try to cheat someone out of.
It's not like someone who only gets 8 weeks of lower-end pay would be picking that fight.
@af
Not always true. In some states, if you sue and win, your attorney's fees are on top of what you are awarded by the court /jury. If your attorney negotiates a settlement, then the 40% comes out of whatever is negotiated. Hopefully the attorney will be smart enough to realize that they need to get a LOT more to cover the 40%. Otherwise, its just a waste of time for all involved.
You are fooling yourself. If they are getting rid of you, they've already decided they do not need or want you.
Negotiate... Sure. LOL
Def hire a lawyer so they can take 40% of what you would have already gotten if you signed the document. Now, that's smart money!
If anyone thinks that they are going to be able to successfully sue WF for anything related to their displacement, they are sadly mistaken.
@a2 no win no pay
@a7 you are short sighted. The market condition is different today. The game is different now.
Troll
The time to negotiate severance is at the time of hire or position change.
Ever hear the phrase, "Don't look a gift horse in the mouth" ?
Take the money and go on with your life.
Splitting hairs, putting up a legal fight, or trying to squeeze out more when it comes to severance is a waste of energy and very short-sighted.
Accept the money graciously, and be grateful with what you get.
Doubtful. You'll get the same amount and will pay 2.5k + court costs for the lawyer