Thread regarding Wells Fargo & Co. layoffs

Discretionary Contributions

Not layoff related, but hearing that we might get a 3% discretionary contribution this year payable late Feb/Early March. Anyone else getting that news?

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Post ID: @OP+1eZIUtm8

12 replies (most recent on top)

All the "lower" earners are getting 1% regardless.

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Post ID: @eap+1eZIUtm8

Wrong again previous commented. Look it up. It is the profit sharing bonus for all employees making under 150 in TVC. It is easy to look it up on teamworks. What an a-s clown.

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Post ID: @msr+1eZIUtm8

I think its only for those that are bonus eligible. There was an incentive compensation plan to retain employees but again, only for bonus eligible. Again, that's what I "heard" and if true, there is truly a divide at WF with the have and have nots even when doing the same job.

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Post ID: @dgm+1eZIUtm8

That is likely for the minimal effort jobs AKA poors

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Post ID: @wqv+1eZIUtm8

If your TVC is above 150K you get NOTHING.

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Post ID: @rvw+1eZIUtm8

Can't see our cult leader handing out anything extra. It's all about shareholders and leadership.

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Post ID: @atu+1eZIUtm8

Just for newcomer's info: profit sharing / discretionary contributions have never been above 2%. For 2010 - 2013 we got 2%, all the rest of the programs history (started in 2009) it's been 0-1%. Technically the program allows for up to 4% but we've never got close.

3% would be awesome, but I'm guessing that someone in the rumor mill might be conflating increase base budgets and discretionary contributions to the 401k plan...

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Post ID: @efp+1eZIUtm8

Some of the peasants making low 6-figures per year live paycheck-to-paycheck...

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Post ID: @wzt+1eZIUtm8

Is this limited to the peasant making less than 150k?

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Post ID: @emd+1eZIUtm8

This would be awesome news. Haven't heard this rumor before and haven't seen any evidence, but I can hope!

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Post ID: @uim+1eZIUtm8

Not only that, but charging more to those employees making above a certain amount to offset reduced costs to those making less. Should come from WF, not employees. Bank profits are billions.

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Post ID: @xxq+1eZIUtm8

Do you have to be making "minimum wage" to get that? Seems like if you make more than $20 per hour, you don't get these incentives. Not that low wage earners shouldn't get more wages, but tired of wells fargo acting like they are doing all workers other than executives a big wage increase.

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Post ID: @rkl+1eZIUtm8

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