Thread regarding Wells Fargo & Co. layoffs

Lhy here...
Confirmed straight from the displacement care group phone #, still 6 months to retain hire date. Sorry to scare anyone, I clearly was given bad info before. My bad!

Displacement person said specifically, we have 6 months to come back after the 60 day notice period. We also keep insurance coverage as long as we are within the severance period, in case anyone was wondering about that also.

@lhy

You are incorrect. Those who are displaced receive a packet/email link to info that clearly states rehire within 6 mos. from termination date (after 60-day period ends) to retain initial hire date. It's not 60 days. People should stop spreading misinformation.

I heard that they changed the length of time you have to get another job within the bank to keep your tenure & PTO. It used to be 6 months until recently; I had heard that changed to 2 months sometime after Q2 last year. I would love to be wrong about it though... I will try to remember to check the handbook tomorrow unless there is more confirmation before then.

Outside of JPM execs, I think salary negotiations are dead at WF. They simply DGAF about domestic workers in any way. Turn down their low ball offer? They don't care, the stretched the limit team can deal with it. Have to repost it? So what, just means more savings on pay. An open slot is like a free employee. The work will get done somehow. HY wants us all gone, and knows almost all of us will be gotten rid of. So why care? They don't. These people are evil and they need to be fired before they destroy what's left of the company.

It’s normal/expected because after the notice period you’re not an employee so the HR systems can’t process you as one. The “reapply” is just a technicality. Agree with everyone else - don’t talk about salary until you get where they are ready for offer.

There are rules about bridging service and retaining tenure based benefits like PTO - I don’t know what they are today so you would have to ask the recruiter or look in the benefits book. Good luck - I hope you land what you want.

What’s the way to play this if you

1. have many years and big severance
2. have few years and low severance

@ocr

If you are rehired within 6 months (not just 60 days), you preserve your initial hire date and length of service/tenure.

OP just be aware that Wells is lowballing these days, I had zero luck with negotiation. Worth a shot but don't get your hopes up.

OP here...

Thank you to everyone who replied. I take your advice, I am not going to talk about any salary negotiation unless the position is offered...

Another question though .. this is for @ocr+1tpao5CW - your post got me thinking..

Do we only retain tenure, PTO days, 401k matching only if offered and accepted within these 60 days ? Not if I am re-hired within the next 6 months ?

Anything is possible. One thing to think about is of you get a new role inside that 60 days, you keep your LOS which could mean a lot of PTO on tye table, plus 401k match without a 1 year break and no gap in health insurance.

You can negotiate salary at any time as you are not technically in a role at WF. I wouldn't bring up Question #1 until you get an offer & they say something. The recruiter will mention it.

OP here.. Editing... my notice ends on 7/26/24. HR informed that if I am not in offer stage by 7/26/24, and they want to go ahead with me - then I might have to re-apply for the position again but this time as an external candidate...

Question -

Is this normal / expected?
after 7/26/24, if I come back to WF.. can I negotiate my salary or again the same rules apply no salary hike for lateral?