I understand Wells Fargo gives 2 weeks severance per year of service. Can someone who was a FTE there lose severance if they have a serious illness that prevents them from working and they were approved for short term and then long term disability from Wells Fargo? I was laid off in my review from my boss at Wells Fargo while in my hospital bed in NYC getting a cancer treatment along with others I know and we were all over age 60.
According to a Wells Fargo Senior Employee Relations Consultant, my long-term disability expires after 24 months and I would no longer be eligible for severance then. They said my employment with Wells Fargo terminates then. I am currently considered an active employee on leave but I have no end date. They said I can find other employment at Wells Fargo when I can return and if they can’t find me anything they are not sure if I am still eligible for severance. If I am able to return after 23 months they said I may or may not be eligible for severance. They said Employee Care needs to look into this but I never heard back from Employee Care on this. According to a member of its displacement team, I was told you must go off long-term disability before 24 months of disability to be eligible for severance. They also said I will never work there again which is not what my organizational changes letter dated 2/6/24 said which was “Subject to the Extended Absence Policy, your employment with Wells Fargo will be preserved while you are on approved leave. Medical, dental, vision, and life insurance benefits will also continue during your leave if the appropriate premiums are paid monthly, on the specified due date. If you are released to return to work within 26 weeks of your leave begin date, you will remain eligible for severance benefits under the Wells Fargo & Company
Severance Plan.”
Due to the seriousness of my illness, I suspect I may never be well enough to work in a similar position at Wells Fargo. What do I need to do in order to get the severance I should be entitled to from Wells Fargo? If you know any good employment lawyers in the NY metro area for this kind of thing that might work on a contingency basis, I would appreciate their contact info. If I should reach out to any government agencies such as the Department of Labor, let me know who you would reach out to.
11 replies (most recent on top)
@s09 do you know if the 6 months STD prior to LTD is supposed to be counted in the 24 months? Wells is terminating me 3/31 just 22 days before I turn 55 cutting my pension in half. They will not let me file appeal or anything. 30 year employee.
Agree with @s09+1vFJBvpx and the OP: "After 24 months out on disability you no longer are employed by WF and therefore no severance." And the whole "return-to-work" is pretty much employer's fantasy where severance is vague/discretionary at best. And even if you did get severance, the LTD insurance company would likely try to offset LTD claim and claw back any severance paid. It makes zero sense -- unfair, misleading and deceptive.
It is a complicated situation but simply put the best I can explain it (I have had employees in similar situation). After 24 months out on disability you no longer are employed by WF and therefore no severance. Generally, the way to be eligible for severance in that situation is to come back to work, with your doctor’s permission, and come off of disability payments. You would then be placed into a job search for a comparable position. Should you not be able to find a position you may be eligible for severance.
Your situation is slightly different thought, because you said you were displaced while you were out on disability. The way that works is that they cannot start paying severance until you return to work - I’ve had that situation too in the past. You have to return to work with dr’s permission upon which the displacement notice period kicks in and severance follows.
I’m sorry for what you are having to go through with your health issues.
Yeah, 99% of these replies are misleading or just plain WRONG.
First of all, DO NOT listen to anything Wells Fargo tells you.
Get copies of all your documents and consult an Employment Law attorney.
I'm on Ltd for an unforeseen illness. I'm grateful I have what I have. I need to get through this mess before I can think about work. Since I never thought it would happen to me, I am just grateful there's a program in place.
Ask an employment law firm such as these folks: www.jacksonelewis.com
"This whole company is full of old farts. I’ve never worked in a place where I struggle to find people employed here less than 15 years and that the majority are 20+ years time in service."
With all of the mergers since the 80's this bank has had who stayed and who went was almost always based on seniority. It was determined long ago that without having valid review systems in place there was no other option than time served to base job selection after a merger. Yes, courts held this method up as valid. Thus the old farts kept staying. Also, for many many years WF was a great place to work. Not anymore of course.
@OP, this should likely be a situation where you consult a labor attorney.
But yes, WF can not pay your severance, unless written into your employment contract. Based on your details and my reading of our docs, assuming your LTD policy lasts through employment termination, you will not receive severance when it ends.
You should also stop attempting to conflate ageism with everything else you’re posting. You will never get anywhere with it. This whole company is full of old farts. I’ve never worked in a place where I struggle to find people employed here less than 15 years and that the majority are 20+ years time in service.
The issue is that if you don't come back from LTD at 24 months, it's considered job abandonment and you quit.
You should be getting 50% pay right now during your LTD for 2 years.
I don't think you will get severance while on LTD since you are already getting 50% pay and benefits.
If your question is whether you can get severance after your LTD is complete, that is a gray area. Could be worth exploring
If you are on disability why would they pay you severance as well? Once your FMLA has expired you lose job protection.