Thread regarding Wells Fargo & Co. layoffs

401K matching -- a Call option?

To current employees at Wells Fargo. You should consider the 401K matching "benefit" as a long-term call option. The 401K you put in this year will only get matched at the beginning of next year. The risk is that you don't get laid off by Jan 2024. You should consider the benefit of repositioning your career to another bank or to another position within Wells Fargo -- especially if you're job is in home mortgage lob.

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Post ID: @OP+1kI0xBSa

10 replies (most recent on top)

401k is matched prior to next year. Bu---r off.

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Post ID: @2rwg+1kI0xBSa

In for the GUARANTEED FUNDS!

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Post ID: @1nax+1kI0xBSa

I don't even understand how 401ks work. I'm just glad the funds are guaranteed.

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Post ID: @1eqs+1kI0xBSa

You should be setting it aside anyway. It’s not some great conspiracy.

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Post ID: @1gxl+1kI0xBSa

Post ID: @zkf+1kI0xBSa

I don’t think you can properly call it a “market low” after two weeks 😂.

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Post ID: @1ofp+1kI0xBSa

I agree with OP. Maybe put off matching until the last couple months of the year as a hedge.

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Post ID: @fij+1kI0xBSa

I believe the vesting period depends on when you were hired. Just checked my account and all funds are fully vested.

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Post ID: @iuf+1kI0xBSa

This make zero sense, I think it a Bull (shi&) spread.

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Post ID: @sqs+1kI0xBSa

If it's so bad, then just leave. The funny thing as it turns out, we all benefited greatly by getting our match at a market low.

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Post ID: @zkf+1kI0xBSa

Not sure why someone would downvote this. Guess the facts are too harsh.

The only correction I would make is not to look for another position at Wells Fargo. Everyone should look for jobs outside of this unethical bank.

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Post ID: @ygq+1kI0xBSa

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