Thread regarding Wells Fargo & Co. layoffs

severance

are folks that get severance supposed to talk about what they got if it's a more generous payout than what the policy allows (2 weeks for every year)? do fired employees get severance? Has anyone heard of such a thing?


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| 1326 views | | 8 replies (last December 8) | Reply
Post ID: @OP+1kbzgmc1d

8 replies (most recent on top)

@ap in Ca, if you are fired for “poor performance” as cause, you are eligible for UI

If you are fired because you committed a crime (like as--ulting another employee) as cause, then you are not eligible for UI

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Post ID: @ay+1kbzgmc1d

If you get fired "for cause" you aren't eligible for severance anywhere nor are you eligible for unemployment in most, if not all, states.

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Post ID: @ap+1kbzgmc1d

Execs with contracts have pre-specified severance.
The only way someone gets more than “standard” is a lawsuit or a credible threat of a successful or messy lawsuit. And, as others have said, those are subject to NDAs
The company can’t really “fight” unemployment claims. Being fired for poor performance is considered out of the employee’s control and they are still eligible.
There are more and more firings for alleged poor performance happening lately. No PIP, no warning, nothing in writing provided - systems access immediately cut off so no gathering documentation.

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Post ID: @an+1kbzgmc1d

@OP Unless you are an executive with an already agreed upon amount in your contract, severance is specified in the employee handbook and is not a straight 2 weeks per year. Years of service 1-4 get 8 weeks and it’s 2 weeks per year thereafter.

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Post ID: @ac+1kbzgmc1d

Severance is always the same unless you had a signed executive employment agreement.

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Post ID: @a5+1kbzgmc1d

No you do not get severance if fired. You get nothing and they will fight unemployment for any reason. Firing reasons are fabricated. The goal is to avoid severance for as many as they can. Red flags; you get inconsistently meets, harraassed, excluded, micromanagrd, corrective action and needs improvement. You hear leadership say "we are over-budget" " we have half the work we had last year". True story.

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Post ID: @a4+1kbzgmc1d

If you get more than the policy, then I would think you signed an NDA.

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Post ID: @a3+1kbzgmc1d

I guarantee 99% of people getting laid off get the same severance package as it's a benefit on the benefit book. there may be a few people with really good lawyers who fight it and end up settling for something more but highly unlikely. you then have executives that have their own contracts with various golden parachutes attached. for rank and file, if you are fired for cause you get nothing but your final paycheck and unused PTO.

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Post ID: @a2+1kbzgmc1d

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