As a VP, I am required to give 30 days notice to keep RSU and be eligible for rehire. I currently work in controls (second line of defense) but will be joining another competitor bank as an WIM client Advisor.
The last thing I need is ~30 days of no pay due to being let go by WF soon after giving my 30 days notice. What are the chances I will be let go soon after giving 30 days notice?
12 replies (most recent on top)
@a4
Correct. In Iowa they are required to pay-out your notice period. I know - it was done to me.
They let me go immediately after giving notice, but paid me for the “notice period time”. I told wells that was the nicest thing they’ve ever done for me.
Control is front line
Many of the respondents in this thread are a shining example of why management has to babysit us.
Nowhere did OP say anything about severance.
@op I have never seen a LEGITIMATE business terminate an employee who has given notice without paying them the intended notice period. Ie: 30 day notice for VP, they walk you out 2 days later, you get paid those 2 days plus the remaining 28 along with any other benefits per your state laws. So I believe you are safe either way. You will work the 30 and be paid normal or, more likely, be put on non-working notice or fully released early still getting that full pay.
Small scrub businesses do janky stuff all the time though. Give 30, they fire you the next AM and only pay you for that extra day.
They will shove you out asap. They won't want you poaching information for a competitor like a client list. Especially WIM, which we are trying to grow. There is no severance for a voluntary quit. They will pay you out your PTO.
Zero. They will make you serve your full notice.
You will be required to work your full 30 days. They never let anyone go early, even if going to a competitor. Before you give notice schedule your community service and personal days or you’ll lose them and you cannot request them once you are in your notice period. These types of PTO are not paid out, you just lose them.
Look in the team member handbook or do a search for a knowledge article. It’s documented. I know people who have gone to competitors and they were required to work their up to 90 notices (various levels have left). But if WF opts to let you go early I would think they would pay you out since you followed the policy requirements. But double check online.
@OP It used to be the norm for WF to let you go immediately if you were going to a competitor. Everyone I knew years ago was let go a day or two after they gave their notice. Not sure how it works now because everyone I know who has left hasn’t left on their own terms.
if you quit, regardless of serving your notice period, you lose any unvested RSUs. You only keep RSUs and continue to vest if they lay you off, you retire, or you die (in which case they vest immediately and go to your next of kin). Also, if you don't serve notice period they can claw back previous years vested RSUs.
They don't have to give you severance. You could be dismissed, paid-out your 30 days notice period, simply covered by something like concerns about WF or customer information or the like.
Zero