Thread regarding Wells Fargo & Co. layoffs

Anyone know the severance calculation - asking in case layoffs reach my position

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| 2835 views | | 14 replies (last February 27, 2023) | Reply
Post ID: @OP+1lkCA11W

14 replies (most recent on top)

Appendix F has not been removed. Stop trying to freak out people douchmagoo.

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Post ID: @4irl+1lkCA11W

flips a nickel

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Post ID: @4nwp+1lkCA11W

@qug+1lkCA11W
The notice period is typically 60 days (90 in NY) and is Non-working so you get paid and receive your full benefits while you are looking for a new job. The severance period, full pay and benefits except you no longer can contribute to the 401K, begins when the non-working notice period ends.

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Post ID: @1nfw+1lkCA11W

Interesting that new benefits book came out today with more layoffs on the horizon.

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Post ID: @xae+1lkCA11W

What’s the difference between the “notice period” and the weeks severance? Does the former come before the latter, or are they concurrent? I’ve seen people on here mention anywhere from 30-90 day notice periods between getting laid off and their severance. They aren’t expecting you to work during that time are they?

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Post ID: @qug+1lkCA11W

I believe it also caps out so you get 2 weeks per year of service up to like 25 years or so. so at most you can get up to a years severance

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Post ID: @tms+1lkCA11W

I was displaced early this month. You get 2 weeks per full year of service. It is calculated and begins when at the end of your notice period. For example, my anniversary date is April 1st and the end of my notice period is April11th so I get the full additional 1 year = additional 2 weeks severance.

Good luck!

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Post ID: @zsa+1lkCA11W

Search for the term salary continuation on teamworks or in the benefits book.

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Post ID: @cvk+1lkCA11W

its spelled out in the benefits book

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Post ID: @lmq+1lkCA11W

It depends on your years of service. Mostly its 8 weeks if you've been with the company for 1-4 years. Then at year 5 it's 10 weeks and each year after that it's an additional 2 weeks. I saved the severance info in case I'm in the next round.

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Post ID: @dfn+1lkCA11W

2 weeks pay for each year of service

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Post ID: @xyd+1lkCA11W

Appendix F has been removed

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Post ID: @zrz+1lkCA11W

Benefits manual appendix F

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Post ID: @fvl+1lkCA11W

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Post ID: @ujk+1lkCA11W

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