In all of those phony forums and zooms and group chats and town halls, has anyone asked Chuckster the Huckster if he would consider offering retirement packages, instead of his continual and often unannounced head-chopping? Just wondering. It just might save my _ss and maybe yours from a surprise layoff if people with years into WF were to look at packages and just take them.
16 replies (most recent on top)
My co-worker filed for retirement. Had one week until retirement date. Instead of letting her retire and haver off the books, she was laid off. 60 more days on the books + her severance package. She was pleased as punch, but gives you the idea of the logic this place implements.
OP, there just are not enough employees at that time of their career to offset layoffs.
Working there was a sham, it's a clown show-like the war mongering us. The smartest thing that should be on everyone's mind right now in the vile us empire should be to invest in different streams of income that are not dependent on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC ETH...).
Is there any benefit to retiring once eligible vs resigning?
Yes, you keep any unvested stock options if you retire instead of resigning. You can also lump sum your pension (if with WF for time there was a pension) out of the no growth with WF. Your lump sum will only get smaller as the years go by.
Honest question because I can’t find the answer
Is there any benefit to retiring once eligible vs resigning?
You’ve been coasting forever. Just go.
Was asked 2+ years back and he said no
I'll retire if they offer me $1 million.
Personally, I don't attend any of his shows. All of those " questions" are screened and selected to fit his narrative. No hardball questions with Charlie.
I have firsthand knowledge of this topic because of work I did in 2010. In that year 54% of WF team members were retirement eligible. That means they had enough age and years of service to qualify for retirement. Now not all certainly would take a boosted package but figuring out where the line is based on what's offered could backfire. That is why we didn't offer it then and why I'm guessing they won't do it now.
Oh come on. Surely you don’t think any question asked of Charlie in public hasn’t been screened ahead of time. Surely you don’t.
What percentage of wf employees would qualify and take the retirement package?
Why would he do that when it costs $$$? Instead, make it so painful to stay and then people quit -- costs nothing.
But we're all about transparency and candor; right?
I'd have more respect if they'd just tell us all the truth. But that would further sink the stock price, so they won't.
WF is the worst.
Only people who get packages like that were the old wf exec level headcount. They would say they're "retiring" and go out with a nice package. Most show back up at another bank after a year or two. That's what makes this whole sales scandal deal absolute bu-----t. No one freaking here is connected in anyway. This place fired the 5,000 low level sales employees who had poor ethics, and they fired everyone and their brother in management remotely connected, they've been at other banks for going on 5-6 years. This place has the cleanest hands around and yet we're still kicked.
I have seen a few old heads “retire” unexpectedly. All were good workers with a lot of experience but were probably making a lot more than warranted for their positions. Makes me wonder if some select people are being offered packages under the table
I don't ever recall anyone asking that question. I think it is a fair question to ask.