Thread regarding Wells Fargo & Co. layoffs

It's easy to know. Do you work in Hudson Yards? Ok, you're safe. Work anywhere else, especially in the US? You are NOT safe.

"Right now being remote basically means you are a target. Chainsaw shows zero mercy when it comes to what he wants to accomplish here."

That's been the conventional wisdom, but yesterday I know of two people in CLT who were let go, citing "efficiencies."

These days, it's hard to know who is safe.

Is being 'eligible' for severance a guarantee these days?

Mortgage apps must be low enough that they can get rid of people doing the appraisals (REVS). There was a team in Phoenix doing this as well but I have no idea where they ended up after COVID.

WF severance is 2 wks per year of service -- minimum 8 wks, maximum 52 wks.

So 8 yrs of service = 16 wks of severance.

Add accrued, unused PTO, plus, if applicable, 60 day notice (more in NY and, soon, CA).

Hoping that you will find an opportunity soon . Best of luck !

Right now being remote basically means you are a target. Chainsaw shows zero mercy when it comes to what he wants to accomplish here

Thoughts and prayers that you find another job soon! Sorry to hear, but that place is a sinking ship! Its like leaving a bad marriage, it's painful but needs to be done! Awful organization.

The severance benefit is listed in the benefits book which you can access on Teamworks. Please educate yourselves people about what the company will pay you

No, severance is 2 weeks for every year, If someone had been with the company for 19 years they would get 38 weeks severance. Severance maxes out at 52 weeks and minimum is 8 weeks severance.

Severance depends on how long a person is with the company...16 weeks means somebody must have been with the company for 19 plus years. It's not the same for others there for 3 years or 6 years.

Wow !

Does that mean you get 16 weeks of severance?