Laid off based out of Charlotte. Been here for 14 years. I am non working till October 2025. Haven’t signed the severance yet as my mental health tanked after the news. How much my severance will be? Any other advice on how to deal with severance and other pointers regarding layoffs will be helpful.
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@pm pm Severance package, LHH coach and webinars plus LinkedIn kept me sane during my new career pursuit.
It also helped not to look for positions based solely on my WF job title but to assess my skills and experience, applying them to new job positions. WF job titles don’t translate easily to other positions/companies.
There’s a company out there that will value you and compensate you well!
I was laid off after 39 years and went through many layoffs and lost lots of friends. I can tell you honestly, that every single person I know who got laid off ended up better off and happier. Every single one. I know it’s shocking and very nerve wracking at first but you will get through that phase and carry on and be grateful for being laid off.
Congratulations!!! You WILL BE OK. Don’t get depressed. Review in depth the severance package once received and process it asap. Get income flowing for the next 2 (notice period) plus 7 (severance + benefits) months. After processing the severance papers, immediately get engaged with LLH. Do their resume and LinkedIn profile, as well as any other options in their program that might appeal to you as having intrinsic value in your next steps. LHH gives you a free access to LinkedIn Learning platform for 6 months. Start looking for new role asap, as part of that process. Please remember that you are WF employee till the very end of the non-working notice period and cannot take another job before then - or you will lose your severance. Plan and research health coverage as part of post-severance contingency, and in case you have not secured a new role by then. (However, if you might be ready to retire at that time, big congratulations again.) Do not get depressed. Get excited about the opportunities. BTW, job market is really challenging now. But do not let it deter or depress you. You have some time to plan your next steps and execute. Value yourself, your knowledge, experience, and what you can offer. Godspeed!
it is a SHAME that they don't outline this is the package anymore......................
Sorry this wasn’t part of your plan. WF has eliminated my role twice. Chose not to go back a third time. Take a bit to decompress, however use this time to get outside for fresh air, do something fun you haven’t had time to do, and start or expand your network.
I was fortunate and am already reemployed and there is life after WF. As many posts refer, it’s almost always better for you.
My mental health has improved, and my physical health has been improving due to lower stress.
You got this!
You should be depressed and feeling awful. Apparently you didn’t do a good enough job. God it must be awful to be you. 🤣🤣
You'll be OK, you are much better off. I've been sick to my stomach over this place for a while now. I'll be glad when its over, pay me to leave.
@OP look at the benefits book on https://teamworks.wellsfargo.com/
https://teamworks.wellsfargo.com/benefitsbookspd/
Laid off a little over a year ago. Life is so much better. My health is better. That place is beyond toxic. You will be better off!
Shart and all the movement to India are going to destroy WF.
Consider yourself lucky. Wells is an Indian company now.
@OP I’m sorry this has happened to you. I am in Iowa and two weeks ago, after 32 years with WF, I was let go. My manager and one colleague were let go as well.
Thankful for 100% pay for 14 months - the 60 day non working notice and then 12 months of severance.
I should have thought ahead and updated my resume when I started seeing the layoffs all around me, but I honestly thought it wouldn’t happen to me. One that really stung was a married couple that got let go within two weeks of each other. Ugh.
I’ve felt sad and a little lost, but after two weeks I’m feeling hopeful again. I really loved my job and the friends I made along the way.
Can you teach an old dog new tricks? I sure hope so because I’m only 55 and not ready to retire.
Take some time to process what has happened, and then get your resume updated and start dipping your toe in the job market.
Keep your spirit .. You will be fine after few days .
@OP what LOB.
I have been laid off twice in my career not at WF.
In both cases, my next job was a far bigger pay.
Funny how you might initially feel miserable, but in most cases it will be the best thing to happen to you .
Happened to me last year. I took a header into junk food and booze for a few days and then got a plan together. You will be okay. 8 weeks non-working and 28 weeks of severance. It’s solid. Maybe save what you used to invest in your 401K. Depends on how much you have in savings.
Give yourself some time to mourn it and then see what is out there. You’ll be okay.
Happened to me last month. It su-ks I know what you ate feeling and it's taken me the last 30 days to get out of this feeling of disbelief and depression. Been interviewing and have some strong leads on opportunities that will be a lot more positive. In speaking with the recruiters all have acknowledged and said that all of the people they speak to from Wells Fargo all say the same thing; this place is toxic, employee sentiment is in the toilet, leadership is not existent amd they only view employees as a number- lastly this place is not what it used to be before Shart and his bandwagon of shitbags took over. It su-ks now but believe me you will be better
off.
@aa
Lol. I'll be a cash person ty. Love my branches.
Banking and investments have moved overseas. No one needs a physical bank for live checks or loans. Older people that haven't gone.digital are gone soon. Current bank locations will make room for condos with a built in safe for diamonds and gold bars. No cash these days. New worlds orderiŋg! Fighting RTO has made decisions most rapidly!
@a5 The only reason to not sign is if you feel you were wrongfully terminated and wish to consult an attorney. By law, they are required to recommend you contact an attorney if you are over the age of 40. That's a personal choice. Do you feel like you were discriminated against and have any evidence?
Otherwise you can just craft a Shart voodoo doll like the rest of us and move on.
@a5 If you read the information it's all in there. You will automatically be opted into biweekly payments with your core benefits. Contributions to your 401k will stop at the end of your 60 day. There is a lump sump payout option that you can request, but you won't get continuation of your health benefits and you'd have to pay for cobra.
@a3 will it be a one time severance payment? Or divided into parts. Any concerns regarding signing the severance package? Should I wait it out?
You will get 7 months of severance pay after your 60 day non-working notice ends and your employment is terminated.
Also, fu-k Shart. Sorry this happened to you.