Thread regarding Wells Fargo & Co. layoffs

unused PTO gets paid out for both layoff and termination. You are eligible for employment for either layoff or termination as long as the termination is for underperformance (vs breaking the law - then not eligible). Check the laws in your state for specifics

If you are termed, your healthcare coverage ceases the last day of the month you're termed. COBRA is offered and it's the same insurance as you have now except you pay the entire premium (what you previously paid + what WF paid)

if they have "grounds" for termination (IM ratings, PIP etc) - you won't get laid off, you'll get termed, this has been happening since 4Q last year.

You can get unemployment for performance term. Call your local unemployment group and confirm what they would need. If you can get a referral for a new job at wells, try that. I was in a similar situation and got out and it’s so much better. Good luck!

I’m telling this to all my direct reports. Use the self check in function in Work Day. You initiate a review with your manager. Ask if there are any performance concerns or things you need to improve. These are stored along with your reviews and will protect you from shady business.

Only PTO is paid.
Other things like floating holiday, personal holiday or not. if You still have those Take them right now.

Everyone is mentally drained here buddy. Most people I know are trying to figure out how to sue or go out on leave. Hang in there.

Go on short term disability as soon as possible. FMLA will give you some temporary protection.

Job market su-ks and its not better anywhere else.
COBRA is very expensive. You may or may not qualify for Obamacare in your state. Might take you 18 months to find something better. No you wont get severance, you may not get unemployment, and it will look horrible for the next job.

Make a long term plan, but su-k it up short term and figure out how to ride it out short term, which means do what your asked to do, fair or unfair.

Once you get a rating below meets, the manager will be pressured to document every mistake and fire you. No severance to save money for the company.

Keep in mind, at every performance cycle evaluation (midyear and end of year), a new crop of us will be pushed into the lower tiers due to HRs forced ranking (sorry, "guided distribution"). So,managers are being pushed to identify a fresh crop of people to target for termination- and a "meets" employee can suddenly find themselves as an undesirable employee who "inconsistently meets" expectations.

It's a grim cycle for both managers and employees.

@af great idea if don't mind effing over everyone who'll need to cover for you while you get paid for doing nothing.

There has been a push to the Managers to fire people rather than giving them severance. You should find another job.

Medical leave of absence

go out in medical leave
talk to a therapist and take a stress depression leave, i did it years ago and go a whole month paid, take the month to look for another job

Update I find out u can apply for unemployment also get a insurance as well I am good lol

Why would they spend the money laying you off, if they've already gotten the stagecoach wheels in motion to fire you for performance?

Shouldn't have asked that of your boss, and no, you aren't eligible for unemployment insurance $ if fired for performance.

Better line up a new job, pronto, because honey-chile...you's COOKED!