Thread regarding Wells Fargo & Co. layoffs

I'll glady take whatever they give. Last time was back in 2010 maybe and I got a couple hundred bucks.

When asked about wage compensation to help fight inflation we are told the lowest paid will get help but those in the middle have to make better spending choices.
Meanwhile CEO gets 20% raise and $5.4M cash bonus.

All I can count on is getting laid off at some point that will benefit the dozens of new managers so they can pay those bonuses next year.,

Don’t waste your time, the lawyers get all the money. It’s a joke. As usual us little people are getting the shaft

I'll use my $4.20 to buy a little can of lighter fluid which I will use to set my 20 year cube on fire.

I've been party to probably a dozen class action suits, 99% of the time it winds up being less than $20 by the time so the lawyers get done stealing the money. If it was $200 in this case I'd be shocked, and tickled.

That's it, I am waiting up all night until I get my share!

If you read the email, then you should have noticed bullet point five under “Who is in the Settlement Class”

received the email too, but how do i know if i was invested in those funds?

“ So, after atty fees , we're at $20M. If we just assume 100k people, that's $200 per person.”

Sahweeet!!! A second bonus!

To @xiu+1gUb7eK6

Don't forget: We're going to put a life insurance policy on your body so if you get ki---d or ki-l yourself due to the way we treat you, we collect the funds and no, we're not giving it to your kids or spouse.

So, after atty fees , we're at $20M. If we just assume 100k people, that's $200 per person.

Where is the PIN # located that is needed to log onto the link provided.

I wonder how our C-Suite and Board would react if we treated them with as little regard and respect as they treat us.

Employees to C-Suite/Board members:

“We’re going to pretend like we’re doing something for you, but we’re actually going to be ripping you off in the background for years.”

“We’re going to rate you on a scale of 1-5, use that as an excuse to give you the teeniest raise, and then tell you to work harder and faster with fewer people.”

“We’re going to survey you about what we can do to serve you better, and then laugh and throw your answers in the trash.”

“We want you to train your replacement in a foreign country, okay?”

“We are probably going to let you go in the next year, but we expect excellence up until the day we let you go. And smile! ”

I love this one: “We’re getting rid of your private office, getting rid of your desk, and you have to come in and sit in the middle of a packed room during a pandemic 😂!! And in the meantime, we employees will work from the comfort of our homes or offices (with the door closed).”

Got one too. 33% to the attorneys. We'll get pittance

Max will be about $130. Class action suits seldom work well for anyone but the attorneys.

I was laid off, but thankfully to God, I found another job.
I called Empower to move my money from there because I wanted to move it to my new company.
They practically tried to get me to leave it there. Uh. No thanks. You threw me out. I am working again. Why should I leave it there?

Re: What were the Challenged Funds?

The ones with WF at the begging of the names.

Challenged Fund
Allocation from Net Settlement Fund***
%****
WF State Street Target CITs
$7,534,000

35. 9%

WF Causeway CIT
$3,851,000

18. 3%

WF Federated CIT
$47,000

0. 2%

WF Stable Value Fund
$26,000

0. 1%

WF Emerging Growth MF
$8,589,000

40. 9%

WF 100% Treasury MMF
$953,000

4. 5%

Total
$21,000,000

100. 0%

Got one too in my personal email.

Wells Fargo has ignored their fiduciary responsibilities and made a ton of money off their own employees via the 401k. They were including proprietary products from which they profited, and including high- fee funds when better-managed low- fee funds were widely available. (I’m sure they had some kind of deal going with the funds, whether it be kick-backs or otherwise.)

Why do you think they moved to Empower? They sold it as a money- saving move, but they were forced for legal reasons.

One thing to always remember about Wells Fargo. They are takers. They will take and take, than unapologetically take more. They have zero ethics when it comes to making the almighty dollar. They will do anything for a buck if they think they can get away with it.

One instance of impropriety could be a mistake, but Wells Fargo has a pattern of ripping people off through the years, including their own employees.

Just got this.

@bkh you're almost certainly right about this being an insignificant payout, most of them end up this way, but one time I did get an almost $10k payout from a wage theft class action suit, so maybe we'll get lucky

I'm not OP, but I received this notice just under an hour ago in my personal email.

I look forward to getting my $3.16 from this after the lawyers get their cut!

Did you get this though your work email, or personal?

What were the Challenged Funds?