Thread regarding Wells Fargo & Co. layoffs

It’s bc they do it in waves so they don’t have to report it! OR they do multiple smaller ones under the limit…and then another larger one here and there to “stay on the up and up”…..it’s ridiculous.

@qkm+1qsrispC

That’s how I understand it as well. It keeps them from needing to be able to count exactly how many 2 months in advance, and also in theory reduces the anxiety over layoffs. Instead of knowing your location is laying off x amount of people in 60 days and everyone there being worried that they’re going to be one of the x, everyone who’s displaced gets told the day of and you get an extra 60 days paid to not work before your severance. Unless you’re one of the rare people with working notice, they find another comparable job to offer you before 60 days is up, or you find another job in those 60 days and actually tell WFC (the latter two of which mean no severance either, since technically they count as you transferring roles or voluntarily quitting, respectively)

In California the law states 60 day notice and in New York it’s 90 days

the 60 day notice to the employee satisfies the requirements of the WARN act. that's why 60 day notice period exists and it's standard practice across many industries. Every person is given the 60 day notice regardless of whether 50 or more in a single location are impacted, so de facto Wells Fargo (and other companies with similar policies) actually provides more than the act requires

The WARN act came about because of steel firms ceasing operations with no notice and in effect firing everyone without notice or severance. People went to work one day and found the doors locked and the company out of business.

Severance is not legally required but notice is.

You get a 60 day notice the same day the WARN notice goes out. Wells does 60 day notice ( working or non working) then severance starts.

also October layoff announcements and November layoff announcements will actually be effective shortly.

More importantly though the people who got laid off in q4 23 would be included with the 750MM to 1B set aside for severance.

Our site went through a large layoff last year. The WARN notice was posted the day the team members were even their 60-day notice. Some were required to keep working, some were essentially given 60 days off paid. Then the severance pay is released after that. At least this is my understanding from what I heard and saw.

Doesn’t WF as a matter of practice, give everyone the 60 days to ensure compliance with WARN given they are so dysfunctional and can’t possibly count the number of people in distinct locations being laid off in a given time period ?

If your company has remote workers based in USA, then they are not counted as dedicated to any one state (even though they may live in the state where the layoffs are occurring), therefore, they are not counted in the WARN notice.

Do some google search cause WARN doesn't explicitly state this for some states.

I think once they tell you, the 60
Day pay begins then severance.

WF deftly dodges WARN trigger as much as possible to hide volume of layoffs from external entities (e.g., govt., MSM). However, WF won't be able to in 2024 given magnitude CS has frequently publicized.

Also, WARN acronym is a misnomer, since reporting is after the fact.

They show up after the displacements.

It gets filed after the fact.