What are the rules around getting yearly bonus if laid off?
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@iza+1oOSRO7
I could be wrong, but there may be a difference between how employees that resign and employees that are layed off are treated with respect to bonus eligibility.
If you are working or in your 60 day notice period Sept 30th, you are eligible for a bonus
: @zdo+1oOSRO7Z
I received about 75% of the full amount.
I don't see any language about September 30 in my package, either. All I see are vague references to eligibility per the incentive plan document. I don't know where to find the incentive plan document now that I have been laid off. I don't see it on Teamworks at Home or the portions of Workday I still have access to.
No you will not get a bonus
"I was laid off last November, severance started in January and I still received a portion of my bonus in February."
What percentage of what you normally would have expected did you receive?
I was laid off last November, severance started in January and I still received a portion of my bonus in February.
"If you are still in your notice period 9/30 you are eligible. It is stated in your severance package."
There is no mention of this in my severance package.
You're not going to get a bonus. You were displaced because your manager stack ranked you at the bottom.
Being eligible and actually getting one are 2 different things. Managers will take care of their current employees and w restructuring, If a new manager takes over your team- forget it!
If you are still in your notice period 9/30 you are eligible. It is stated in your severance package.
Read the Wells Fargo Bonus Plan document for eligibility rules.
I was on a displacement call yesterday with ~500 others laid off last week (500 people happens to be the Zoom limit), and the facilitator, surprisingly, stated that some on the call would still be bonus eligible. Where to find the eligibility requirements for specific groups? I'm not sure.
It's my understanding that you must be actively employed at the time the bonus pays out. So, if you're cut prior to Feb.....SOL