From 2 wks/yr to 1 wk/yr with a max of 26 weeks. Wouldn’t be surprising.
16 replies (most recent on top)
They don't have to give anyone severance. They are an at will employer.
When you accept the severance don’t you have to sign something basically giving up most of your legal leeway to sue them for some sort of discrimination? That’s half the reason they give them, to get you to sign that. If they reduced it too much eventually more people will decide they’d rather kick the tires on a law suit to see if they can get a big pay day, considering they wouldn’t be risking all that much by not accepting the severance anymore. Even if most of them are bogus, the court costs alone would probably end up making whatever they save on severance a wash (not to mention the further reputational hit, plus losing ground to competitors on hiring/retention).
I heard you owe them one week per year of service, but they’ll give you a fair interest rate on the loan you’ll need to take out.
Unlikely. But what would be keeping them from doing it if they wanted?
Post ID: @obq+1m4iD38C “Our year max is generous compared to peers.”
Not true. Wells Fargo’s severance is in-line with peers, or less.
For the people who parrot about how great our benefits are - please educate yourself before passing on the bs you heard from your recruiter, HR and/or the C-Suite.
I heard it is going to be 2 days per year with a max of 2 weeks. And Tech IS affected
They can make changes anytime they want. Would not surprise me with the amount of people they plan on dumping this year
@mio - hahahahahaha - nailed it!
Funny because “someone hears” this rumor every few months on this site.
They tell me severance is changing to the likes no one has ever seen in this country. They are coming after my severance and they are coming after yours next. A few days ago, a little nobody came up to me with tears in his eyes, and he said “Sir!” Because they all call me sir. He said “Sir, please don’t let them take my severance away!” I told him I would KEEP SEVERANCE GREAT AGAIN! Please keep up the donations.
Benefits for 2023 are already set. Troll.
Is a rumored floated on this site often. If they were to do it it wouldn’t happen the beginning of the year when they usually make policy and handbook changes.
Fake news.
I heard this rumor when Charlie was hired, then repeated every few weeks since then.
Still hasn't happened.
Wouldn’t surprise me. Our year max is generous compared to peers.
Eff me