If you notify HR of starting a new job during 60-day notice period, you forfeit all remaining pay/severance.
Would they know if you quietly accepted another job? Any downside to doing this? Anyone done it?
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What if you currently have a PT job as well to make ends meet? Is this the same as finding new?
They absolutely DO find out because they get reports by SSN to find out if another employer is paying you. They have the right to do that as part of the separation offer and they will "force separate" you if you take another job during the 60 day notice. They save a ton on severance and benefits if they can get rid of someone before the 60 day notice ends. During the notice you are a paid employee. You are NOT displaced yet.
Friend of mine was laid off in April, 60-day non working, took a few weeks off then bought a commercial grade lawn mower and advertised on his local neighborhood site, got plenty of jobs. Did that through his severance. He then got a job with Allegacy FCU. He couldn’t be happier although he took a $40K pay cut. But remote job. Had only been at WF for 5 years I think.
The facts:
- during notice, even if nonworking, you are still an employee of the company, and if you take other employment you are voluntarily resigning. You no longer are entitled to severence
- it may take some time but they can and will catch up with you and claw back the severence. as has been stated on here there are automated services that track employment dates - employers report into them, and they get feeds back from them.
Don't pay attention to all of the "oh WF is so incompetent it will never happen". It's on autopilot. all the talk on this board is about how management will find every way possible NOT to have to pay severance - and this is one of those ways.
Negotiate for a start date after your last nonworking notice day. Don't risk it.
WTF? Why would you notify HR if you're already in your 60 day period? FFS, just keep your mouth shut. If anything tell your new employer to make the offer after your 60 day period.
Read the Handbook! If you wait to start your job after 60 day non working notice (you're paid) and are receiving severance (meaning you've been with WF longer than years - get 2 weeks per WF year), then you get a LUMP SUM payout if you accept employment outside WF. If you re-join WF, you severance payments stop.
Getting displaced from WF could be a high earning year for those who join other companies. I've been here 17 years -- can't WAIT to be displaced, take some time off and get a lump sum. My longevity and lump sum payout, not WF loyalty, will be my prize.
Good luck!
You can ACCEPT a job, but you could not start until after the notice period ended. Even starting a part time job would cause you to forfeit your severance. (WF would have no way to prove when/if you had only accepted a job because you wouldn’t be listed on an employment verification site until you actually started.)
Can’t wait until I get canned. Going to spend 6 months licking my own ball sack
If you accept a job with another company then no HR does not need to know and you have every right to get paid your severance. If it's a job with Wells Fargo then HR will know and you will not get severance. As far as leaving and starting during the 60 day period, if it's with an outside company, then that all depends some people do not have to work they can take the option to go right away but if you have enough PTO saved up maybe you can cut the 60 days down. You could also let the new company know that you have to wait until a certain day before you can start with them due to a project or something important they don't need to know the details and most times those companies are really good with working with people so that they can give a proper notice since they would like for their employees to do the same for them. I hope that all makes sense.
I would ask the company making the offer to wait a little bit and enjoy the time off. You’re getting paid anyways so enjoy the paid time off!
Could the company find out? Maybe, but there are so many thousands of people laid off and so much incompetence, I doubt it would ever catch up to anyone.
take some time, relax, and when/if you do get a job offer negotiate a start date at the end of your 60day period. given it takes on average over a month these days to get though a hiring process I would think you wouldn't run into any issues.
The last I wanted to do during my notice was work. It was a nice paid vacation. Take full advantage, deal with getting laid off, then enjoy life for a bit. No need to get right back into the grind.
Don't do it. There are many ways for companies to find out, and they actively use tools to ferret out those who attempt to commit fraud.
Either postpone your start date or ask your new employer for a signing bonus close to/equal the amount of notice salary you'd be foregoing. That's what I did in my prior role (negotiated signing bonus to offset what I'd be missing -- plus some extra).
Don’t do it, I have heard a story if someone doing that and WF required them to pay back all their severance a few years after the fact. It isn’t worth it!
@ixb+1p28ohc9 during the 60-day notice period you are STILL a WF employee.
If WF learned you accepted another position during the notice period--WF would take that as you terminated/abandoned your employment--you'd forfeit notice pay and severance package. You may not think it's a big deal but....and that's fine.
There was a reddit post about how your employment at companies will show up by default at the credit agencies, so the trick is to request that info be deleted.
@psy+1p28ohc9 what do you mean by “you'd lose more than what you gained in 60 days” ?
@qys+1p28ohc9 the chance that WF would know if someone started a new job during the 60day notice period is very small.... keep in mind that WF is swarmy and IF they did learn of it, you'd lose more than what you gained in 60 days
Why would they know/find out if you didn’t tell them?
I thought about it......but losing out on my severance in the event WF found out wasn't worth the risk. So....the fact that I "quietly quit" the last 4 or 5 years, sometimes only working 3 hours a day-- I consider it a win. F*ck WF.