I heard someone tell me this and now I can’t find severance in the employee handbook. I remember this used to be called the team member handbook. Atleast they are being upfront about us not being on a team. What a rotten company. They actually put a manager I know through 2 months training then told that person the role is being removed the week the person finished training. What a joke
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First Union - 1 month of severance per year of service with no cap. Wachovia - same policy capped at a year. Wells Fargo make it 2 weeks for every year of service, capped at a year.
Got laid off; lost all access same day. 60 days working notice, then 2 weeks of pay and benefits. Double dipped for 6 plus months of that time. Taxes were a pain but home has been renovated.
When they offed me (after all 4’s and 5’s) they called my severance pay “Salary Continuation Pay”. I received the 60-day warn period checks and then the two weeks’ pay per number of years completed pay on the same pay period schedule as my regular salary had been. And, yes, my manager acted like a friend asking all about my plans and level of preparedness for retirement, about 4 months before I was “displaced”. Real class act, this place!
It’s still there
An auditor discovered severances cost money. Once management was informed the bank discontinued all layoffs indefinitely.
We have an excellent severance package.
Wow, you really like to make assumptions. I never said "America #1". I never "whined" about anyone saying anything. Saying people are free to move isn't the same thing as telling people to move. You know what the word "free" means, right? I have no delusions about Scandinavia or it's people. I'm sure they're great.
The only point is that people often "flock to" countries for reasons much more complex than some might assume. This is why I mentioned Haiti specifically, it's a good example because I doubt few people in the world, and even fewer in Haiti, believe that their government and economic system is ideal, and yet lots of people from the US move there. Clearly there's more going on than a simple analysis of gov/econ issues, which makes the original comment (now deleted) about Scandinavians not flocking to the US of questionable value and certainly not evidence of either system's superiority.
I'll give you that they sure are proud of their so called “free” college. They bring into conversation constantly, it’s kind of cliché and pathetic all at once. However what colleges are there that are even worth mentioning? I can’t think of one. America has MIT, Harvard, Princeton, Stanford, Yale, Caltech, Univ of Chicago, Cali UC’s, the list the list is a mile long of the best schools in the world. Its easy to pay off student loans when your making 10X your Swedish counterpart and not dealing with 50% tax rates. And don't even get me started on Medical, enjoy the limited dr-gs and the crazy long wait times.
It’s pretty telling that you have to reach for “not technically slaves” to find a benefit.
Although to drop the snark for a second here: that sucks dude I genuinely hope things get better for you there
and let's not forget that in US I can leave my job at any time for any reason, notice or not. in India we have notice periods and can't leave for 60+ days and if we leave before that we get blacklisted as new company will ensure employee met notice periods.
It used to really only mention the details in the benefit book but it's a separate policy now.
Cutting severance is one thing but not making it widely known is another. Families should be informed they won’t receive severance so they can plan for it.
Lol @ thinking that it is remotely better for a worker in the US than the EU. Although it’s pretty obvious that’s the same conservative troll who will (badly) lie about himself to give credibility to his delusions.
@iwq+ Have you worked for a company in the EU? It may be AT Will here in America but your getting paid 3 to 4 times. I'm from the EU and every time i hear from Americans how bad they think they have it i laugh, they have no clue how well they have it. And if your a minority abroad, please you would be lucky to make one tenth what you do in America.
"The US empire/regime is the only Westernized country with employment at will doctrines. The US corporation can do whatever whenever anytime, any reason, no reason. Cesspool of corruption, lies, and propaganda"
Thats what Employment at will means. So can you.
The US empire/regime is the only Westernized country with employment at will doctrines. The US corporation can do whatever whenever anytime, any reason, no reason. Cesspool of corruption, lies, and propaganda.
The policy was updated in January 2022 but it’s still there- Wells Fargo & Company Severance Plan.
Not this again. Go to tw, search for "severance plan". There ya go. Admins, lock it down.