Thread regarding Wells Fargo & Co. layoffs

compassionate layoffs

Listening to news radio this morning on my drive into the office there was a brief segment talking about layoff notices with a quote from someone at WF about how they try to be compassionate about layoffs and this give ample notice to employees to allow them time to look for new work. Disingenuous at best. WF only give the amount of notice required by law, which in most states/jurisdictions is 60 days. It just so happens that in most cases it is non working notice. While that may free up the employee to start their job hunt, there reason for making it non working to protect WF. When all is said and done, You are told a couple hours at most before they shut off your access and escort you out the door.

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Post ID: @OP+1q1rN7ws

16 replies (most recent on top)

What we all need are layoff doulas.

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Post ID: @1ztu+1q1rN7ws

@1vrc

Re: career counseling firms...
WF gives you access to either Right Mgt. or Lee Hecht.

"Privileged" WF businesses like Wholesale tend to get Right Mgt (based on my experience, it's a step up in quality from Lee Hecht).

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Post ID: @1upq+1q1rN7ws

@czs+1q1rN7ws Do you mind sharing the career consulting firm that wells hired. I was laid off this year in August.

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Post ID: @1vrc+1q1rN7ws

Severance package? Mine was 1 year salary, last years bonus, bonus for this year , and all LTI paid out . …… I did not work for Wells. But it does tell you how they defined compassion. Others at my company got 3 weeks for every year and the same bonus payouts and this years bonus and LTI. Plus we got 25% merit increase last year. Now we knew we were going to be shown the door at least 6 months in advance and none of the folks on my team wanted to land a job there with this type of package. But the point is… This was compassion.

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Post ID: @1ulb+1q1rN7ws

Escort out the door? Wow, that’s red carpet treatment! How about the people who got an automated phone call while they are RTO in an office.

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Post ID: @req+1q1rN7ws

The only thing ample about WF is its can o worms leadership and its offshoring practices.

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Post ID: @grx+1q1rN7ws

Somehow I don’t think compassionate and layoff go together…

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Post ID: @eay+1q1rN7ws

For some of us, the action alone of WF nudging us out the door is the nicest thing they could for our careers. What a sad state of affairs it is to be working for WF.

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Post ID: @qnf+1q1rN7ws

the point is they only do it because they have to. WF along with many other companies also offer severance which is nice, not everyone does so every little bit helps. while some employees may get a heads up from their management, that is not the norm. As for 60 days notice. WARN is a federal law so all states have to comply with it at minimum. There are some states, maybe 7 or 8 that have enacted their own legislation that go a little further than the Fed.

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Post ID: @jry+1q1rN7ws

We are treated incredibly well when laid off. I was laid off last November and having the notice + long severance period with benefits was a life saver. I also used the career consulting company they hired for us and found a new position. Stop complaining.

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Post ID: @czs+1q1rN7ws

Actually, I know of multiple people who were given a heads up months ago that they'd be given their 60 days notice in 2024.

I believe this is to encourage attrition.

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Post ID: @twf+1q1rN7ws

Are there certain states that have the 60
days and others not?

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Post ID: @vdo+1q1rN7ws

the point is that WF says they care, but in reality they could care less. Not that we didn't already know this. but given all the layoff talk in the media the last couple weeks, specific to WF, communication teams are in full spin. Trust me, if not for the warn act you wouldn't even get that 60 days. WF does the legal minimum, nothing more nothing less

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Post ID: @bhh+1q1rN7ws

I agree, Disingenuous is the proper word. There is absolutely no concern regarding an individuals lay off date by WF. Do you really think they take into consideration an employee’s birthday, anniversary or holiday when they decide to sever? If you do, you are on recreational dr-gs.

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Post ID: @mrw+1q1rN7ws

Did coffee come out of your nose laughing?

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Post ID: @gtf+1q1rN7ws

ok? And so the point is....

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Post ID: @zmf+1q1rN7ws

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