Juicy detail. He said ppl in the same department, laid off, not fired, on the same Tuesday and not everyone gets severance. Some have no package. PCG/WBS.
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If you don't get a severance that'd be awful. I know someone who didn't get one actually.
I feel bad for them when they told me the situation. It looks like manager didn't help them out. Who knows.
I guess pics and videos will soon be sent to their homes or spouses phone or email.
@s1 I know one. It's horrible and they were there for a very long time. I hope they ended up with something anyway.
Has anyone ever been terminated without severance at WF?
heard it from a friend who, heard it from a friend who, heard it from another.....
Charlie p-o ? Did you make this original post ? So you DO read this forum. You truly care about all Wells Fargo employees and are a genuinely altruistic soul that........yeah, I can't finish this one
@b0 found the sheep.
False BUT you may unexpectedly be rated Inconsistently Meets for your year-end which sets your for cause termination in motion. Start job searching then. (Or start sooner if you suspect your boss is suddenly finding reasons to be negative about your performance).
If you get a second consecutive rating below Meets you will probably be terminated with no severance or notice.
I was terminated on a Tues. It is not called a "layoff" if you are terminated for fake performance reviews. You get severance if you are told "laid off". Your manager is under-handedly admitting people are getting terminated because the company is avoiding severance
Not true as written. All terminations coded as layoffs qualify for the salary continuation (severance) plan. Separations from service for cause/performance are NOT layoffs regardless what day of the week they happen.
Layoffs will always follow the company's common date (currently the Tuesday after a payday except for certain holiday weeks). Separations for cause may occur on any day of the week.
This is incorrect and spreads unnecessary fear. Under Wells Fargo’s Severance Plan / Salary Continuation Pay Plan, a true displacement/RIF (position elimination or other qualifying event) triggers the package—including the notice period and the tenure-based severance (minimum 8 weeks even for short tenure). People who get zero package are not “laid off without severance.” They are terminations for other reasons (performance, etc.). Those can happen around the same dates in the same broader area, which is why the rumor starts. The plan documents and consistent experience of people who actually went through real RIFs do not support selective denial of severance for genuine layoffs. If it were a pure position elimination on a Tuesday, the package comes with it. Spreading the opposite creates panic for no reason.
The one fine print could be that they haven't worked here long enough to be eligible for severance. I'm assuming you need to be here at least a year.
100% false. If you're getting laid off, then you're getting severance. Full stop. If they aren't getting severance, then they haven't been laid off, but some other termination.
Probably coincidental timing of a term for performance. If they could just 'not pay severance' and still be withing the salary continuation plan policy, they'd surely do it for everyone.
first time i've heard this. scary if true. it's not happening in my group (at least not yet).