For those that were offered relocation, what were the terms?
How long between relocation acceptance and requirement to show up at new location?
Assume you didn’t actually have to move your residence, correct?
How long do you have to stay with Wells Fargo post relocation?
If you don’t stay the required time, is the payback of relocation $ prorated or is it 100%?
(No need to share $ amounts)
@a4 get an address from a friend and put that in. Then stay put.
@bw if you don’t say you will relocate you will get a package soon.
Each relocation offer and package are different. I was offered a relocation package. I had 2 weeks to decide if I wanted to accept. I was offered 5 locations to choose from. I was offered 5k cash to help with costs and up to 10k for the move. I accepted the offer, I had 1 year to make the move. Once I moved, I had to make sure I provided them an actual physical location of where I moved too. And if I left before 2 years, I owed any money used back to the company. I chose to use the time to find another job and then move, if nothing came about. I’m with another company, never moved and I’ve never been happier. WF su-ks the life out of you. I sleep better at night.
@dt Totally false. They will not just let you sit in your non-hub office location unless you are really higher up or at least close to OC+1. In many orgs, not only is there a "location strategy" but also a "co-location strategy" where you are required to be in the same market as your manager.
Have you told the CAO this?
@b2 mine def said 1yr and the relo payback goes down each mo
Considering such a person would have already collected 26 pay days plus however long it takes them to bust you for not moving, so what?
@OP maybe not all businesses but many have changed policy. They will allow people to stay in their location as long as they can get to a WF desk. No remote but you don’t have to be in a hub. No Severance or Notice for Location Strategy.
This all makes sense considering how much of a hit WF took due to the Severance expense. Down vote all you want but you would be burying your heads
@bw then they will fire you for performance instead of offering you a dime in severance. Source: it is clearly said in the relo agreement.
If you have less than 26 years of service, what prevents you from saying you'll relocate and then not doing so? Super commute for a while if necessary, but it's a game one can play.
The relocation package included around $8k to help move, look for an apartment, etc. If you chose to move, you had 1 year to move. If you chose to commute, you had 2 months to start commuting.
If you moved and used the relocation assistance, you had to stay at WF for 2 years. If you left prior to those two years, you had to pay back the relocation assistance that you used.
I chose to be laid off and get a severance package; I had 31 years of service and they wanted me to commute up to 90 miles to an office - one way. Four days a week.
@ah lol no. Wild times with WIM leaders moving to FL building million dollar homes for relocation.
Thanks @ap+1
Don’t know if they’re still giving relo packages but I’ll give you my experience. After you sign the document you have a year to move to the new location. If you decide to commute, I think you only have 3 months or so to start in office 3x a week.
If you take the package and move, you have to stay with the company for a year or you have to pay back the money. It’s prorated, not 100%.
I heard they were done with packages. No severance for location either. Last year was it
OP here.
Just want the relo terms from someone who has experience with them.
Ha...you think you're getting relocation money?
It's crazy to even consider taking a relocation offer unless you have a strong desire to move to that location with a willingness to find new employment in that state/city.