Thread regarding Wells Fargo & Co. layoffs

@1jy Can't you see this in theworknumber data? There is nothing about rehire eligibility.

@OP to answer your questions directly:

• if this is your first IM (I.e. you got meets midyear) then you won't be fired... but you may be put on a PIP. Ask your boss and listen carefully to "what do I need to do to recover" and then do it.
• if this is your second IM (you got IM MY and YE) you will be fired without severance. that seems to be taking 2-4 months after the second IM rating
• if there are "efficiency" reductions between now and MY, you are more vulnerable - however, there would then be severance
• being fired for performance doesn't mark you ineligible for rehire (unless it was for breaking the law, which is a whole different deal)
• you are still eligible for unemployment payments if you are fired for performance
• WF does not divulge that you were fired. Dates of employment - and that's it

you have no upside to quitting ahead of being fired, unless your day to day is living h*ll and you need to get out.

@b8 I was told I was eligible for regire yet rejected from every role I qualify for and apply for even at different companies. I have had 1 interview in the last 5 months and over 100 applications. A manager I know at another company called the employee vertification and they said I was ineligible for rehire yet I know the policy of Wells Fargo is to email you to let you know that and provide directions to ask any questions. I never got any email or document saying I was ineligible. My past role had ever changing expectations and an unrealistic expectation of perfection. I never had any misconduct and always followed policies and procedures. I also would have one on ones with my manager weekly or every other week and sent bullets of everything I did for the week each Friday. Never would be told I wasn’t doing a good job and then 6 months later was told I wasn’t performing up to standards, but I didn’t change anything I was doing. So frustrating.

@a3 this is happening to me. I’d be going on a mental leave of absence from that bullying. It’s toxic and your life. Start your own trail of their abuses. I have complex ptsd and WF bosses clueless are triggering it with fabrication.

@OP As a former manager (no longer employed at WF) it is almost impossible to come off of a inconsistently meets. Yes, at some point you will be terminated, don't count on getting a severance. Do create a record trail of your performance and actions on how you are improving, document via emails to your managers, have pointed conversations to discuss you progress and summarize in an email to your manager. This could help you in a wrongful termination case.

@a5 you can only be marked as not eligible for code of ethics type of firings. They can’t do it for performance related.

@a6 Your assumption is logical but incorrect. They put you on do not rehire for any reason they want. Manager's discretion.

@a3 this is so true. They dont want to pay severance so they made up a reason to put me straight on a formal. No warning said bc I was at a inconsistent meets in my last department they were suppose to write me up. I never in my life ever heard of that. How did I transfer to a new department if I was on a write up???? I was never told about it.......but im next

@bb what do you mean? An IM to sever you?

@a3 Yes -- waste no time. They've begun documenting to build a case for termination based on performance. In my many years, when 1x1 discussions begin feeling strange, it's heading south. Years ago, you had time to bail. Not anymore.

@b8 did you get a IM at mid year?

@b8 same here..just shy 17yrs and never had issues until this last dept targeted me and everything they put in performance was fabricated. @ay supports reason people like me and @b8 have a lawsuit. It is obvious there is unfair practices in terminating. Unfortunately lawyers do not want to take case because its hard to prove.

@b8 What LOB or function?

@OP
I worked for Wells Fargo for over 20 years and was terminated for performance in December 2025. No severance at all. I always followed their policies and procedures. Their metrics to hit their goal for performance was unjust and still is. When I was told I was terminated I was advised I was not rehireable. Again never broke any policies or procedures and was always a great employee.

@aw+1kfkbak27 I want to add that the company does not provide employment references, positive or negative. Dates of employment and nothing else. Employers long ago realized that there’s no upside, and only tons of downside risk, if they provide references. Providing references opens many cans of worms including risks of being accused of retaliation, discrimination, or defamation.

@aw+1kfkbak27, if you were never licensed the circumstances of your termination are under lock and key. Wells Fargo will only confirm dates of employment. NO details on whether your departure was voluntary or involuntary, or whether you’re eligible for rehire.

Same thing with me. Same story same drill. Don’t quit. They want that. Bonus pool need to rate someone down. Gross.

You are probably safe unless you get another IM. Then you'll be fired for cause.

@OP Former WF Manager. They would not fire you based on an inconsistent meets rating unless there were some missing risk components within that rating or if you’re currently in a performance improvement plan and your behaviors still are not improving. I will say if your department is doing layoffs then the rating may be a contributor to laying you off.
Depending on the reason they fire you in most cases you may still be hire eligible within the company but not sure why you would even want to come back unless it was an amazing opportunity. Also just as others have mentioned if WF fires you, there is nothing that shows whatever new company you’re applying for the reason.

@ak does that apply if you never had a license? I need to know if I apply for those jobs. Thank you for sharing!!

They don’t/won’t share your rehire eligibility with anyone outside the firm. They confirm dates of employment and nothing else. A small caveat, if you are securities licensed (e.g. Series 7), terminations, including a notation as to whether it was voluntary or involuntary (and if the latter, layoff or fired) go on your FINRA dossier for life, and future potential employers can see it.

If fired for IM you will be marked as DO NOT REHIRE!!!! TRUE. I got it Dec 2nd. I even disputed with HR and they confirmed. This was not the case before. In fact I never heard of anyone fired for performance before I was. The mgt team will not help you improve because the plan is firing as many as possible now to avoid severance!!!

Even fired is eligible, last year our group fired one guy, HR clearly said need to tell him he still eligible for rehire. If you quit and don't give required 30-60 days notice then you will be ineligible.

Former WF employee.
My YE review, I got Meets with one inconsistently meets. They laid me off two months later, but it didn't make me ineligible for rehire. I actually tried coming back. Had several interviews, but they didn't pan out.
I think you're only ineligible for rehire if you're fired, but not laid off. If they fire you for performance, and yes, that has happened to me at another company, it still doesn't hinder you from unemployment, or have employees question it. You just don't apply to them anymore. End of story.

No need to resign, just wait for fire/layoff. Rehire doesn't matter, every group is cutting.

You'd have to really do something to get put on a do not rehire list. Steal from them or something like that.

OP here. Thanks for the replies, I appreciate it. My only concern is that the reference will say "eligible for rehire" or "not eligible for rehire", and the latter is a sign that something is wrong. If I can avoid that by resigning instead of being fired then I'll do that, even at the cost of losing unemployment.

I got the same rating too. I’d just wait to get fired. Most companies aren’t gonna bother digging into why you are no longer there unless you did something illegal.

I am in the same boat. Was it warranted? iffy at best. I dont expect to be fired, but are you and I on a list of potential layoffs? absolutely.

I can tell you I just had my first 1 on 1 since the review last week and oh boy.. picking apart everything. Questions that were never asked before are being asked. And appear to be under scrutiny that no one else is. I mean if you want you can find fault with anybody work or timing on replies or whatever it is they want to decide to look at. So not sure exactly how this is reversed.

As far as toward the references, dont even worry about that, the new employer can only dig so much.

Plan is to start job searching immediately and hope the layoff comes before the nit picking gets worse.