From folks who say, "The company doesn't have to give severance..." or "other companies do much less....".
What EFFIN BS.
Yes, WF HAS to provide severance. They have to abide by the employee handbook which they have published. For all you mo--ns out there who think WF is going above and beyond....LMAO! You are d-mber than a bunch of rocks!
WF HAS to abide by what they have committed to in their publications.
Yes, they can change it. But that will take time. They'll have communicate it, have to allow time for it to become policy. Even then, there will be challenges. Likely - as WF is wont to do, they'll sc--w some simply due to bad management or personal grievances. But, overall, any changes in policy will take time and have to be announced well in advance.
So to those of you who say, OH! But they are so awesome, they give sooooo much in severance!
I say to you, what a bunch of buffoons. You su-k. Totally and literally. Get a grip. WF only gives severance to shut folks up after a long tenure, then pittances for them. Why doesn't anyone talk about the employment contracts Sr. Executives get? With guaranteed bonus, guaranteed retirement, guaranteed yearly increases (based on actual, things that are written down)?
Yep, what a bunch of losers that decry what we, the workers complain about. We, the workers - are due MORE. MORE than what we are getting when we are thrown to the curb!!!
Just saying, had to get that off my chest. OK everyone, go back to your bingo games.....LOLOLOL
8 replies (most recent on top)
@df
I'd drive past my office to get to yours. That sounds delish!!!!
they'll give severance to people they'll say are fired
the company doesnt have their sh-t together
WF can and do avoid severance with fake forced performance evaluations. There are no controls in place to prevent a mgr on a mission to fire long time employees they sacrifice to save their friends. Wake up..a layoff is the least of your worries.
@OP
Lighten up Francis.
Sounds like you have too much of your life, your existence, your worth, wrapped-up in being a Wells Fargo employee. Or at least wrapped-up in your job.
No, Wells Fargo does not have to pay out severance. Yes, it may be in the employee handbook, but that can be changed at any time. The only obligation WF would likely face in relation to severance in the current period is the argument could be made if Employees A-M were paid severance during this downsizing in 2024, why shouldn't Employees N-Z receive the same in 2025?'. And, yes, whether you like it or not, WF has an excellent severance program. Two weeks for every year? Yes, I'll take 36 weeks of pay... Can even cash it out lump sump if I wanted... FULL insurace... Full benefits in everything WHILE YOU ARE NOT EARNING/GAINING ANYTHING FOR THE COMPANY... I was even receiving severance after starting a new job. I even received full bonus. And full 401k match. Do all? Of course not. That's the way things happen. Nothing to cry about.
Perhaps you are not old enough to remember. Or, perhaps, too old to remember... There have been mass layoffs, reorgs and takeovers where the evening news showed employees streaming out of office buildings, box of belongings in-hand
Life happens. No point throwing a fit about things which happen within it. And the end of the day you chose to either apply to WF or to stay with WF after an acquisition. Either way, YOU are responsible for being a WF employee at this point in time.
OP you are absolutely right. These people get a bone and grateful and happy for it just like they want them to be… until people wake up and start demand what they deserve nothing will change…
Take a deep breath . The point made was that severance is not a mandated benefit. WF can end it it at any time and publish an SPD update- it's called an SMM (summary of material modifications). You are delusional to think that "takes time" and a change can't happen as quickly as the OC and Board want it to.
@at And you're mad someone insulted your massa.
Somebody's mad their coffee badging got taken away.