Nice job WF displacing people on 9/30 so they aren't still considered employees on 12/15 (with their 60 days notice) to get the entire year of 401k matching!
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Wouldn’t someone getting laid of 10/14 also have their notice period end by 12/15? By my math 60 days after 10/14! would be 12/13….
This is not true for our group. Those affected still get their match and bonus, especially with the notice and severance period. Maybe it is specific to LOB
We were told that our employees being displaced at this time will be getting their match and bonus as a courtesy
I will say that the layoffs on 9/30 are "convenient" from the employer cost perspective. Yet, so were the earlier ones throughout the year. It is hard however to stomach losing bonus and 401k match so late in year. Would be better to just get displaced on Jan 1 - where the emp is not giving up anything.
IMHO, it seems that WF is getting rid of the "undesirables" as well as the ones who don't fit the new location mode. Its all over the board. Yet, we, the displaced pay the price.
The only benefit is, we are gone from the toxicity of the environment, we are gone from the daily worry "am I next...!" thoughts. Is there something better? Time will tell. Will I miss my coworkers? YES. That is an unequivocable answer. YES.
The Wells Fargo today is not the one I started working for years ago. It is completely different. Cutthroat. Conniving. Political BS. Pitting co-workers against each other at review time. Yep. Totally different. I think there must be something better out there. Better for the career, better for the soul, better for learning. Just......better.
Thats my .02 for the day.....working through the grief process and separation process and everything that entails.
Its real.
@be - Yeah, layoffs from Jan - Sept 16 never happened. Oh right, it did, I was let go in June and final day with WF in late August. Hence the conspiracy must be true !
Post ID: @OP+1k6gz5y9h:
Would you be able to share what division and City you are referring to?
Yes, because there is NO WAY there have been layoffs every two weeks this entire year. This is totally a setup to save on the insignificant 401k match.