I was told I'd be given 60 days to find another job and if I failed to do so at the end of the 60 days and then severance would kick in. I'm in the 2nd week of my 60 days, if I found a job next week, does that mean I wouldn't end up getting a severance?
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If you find a job internally, no you don't get severance b/c you're still an employee.
If the job you found is external, then negotiate your start date AFTER your 60 days or otherwise it's as if you resigned and you won't get your severance.
and no, don't tell them sh*t. If they find out they'll pay you in lump sum, otherwise you'll just get a bi-weekly check.
Just ask for your start date to be X day after your 60 day notice period ends. Shouldn’t be too big of a deal, but it’s the only way to guarantee severance.
what is the general severance package? 4 weeks pay per year worked? 2 weeks pay?
Those thinking Wells won't know: Others have pointed out how. And if you think Wells wouldn't look for any reason to deny severance, spend just 30 seconds contemplating that.
DO NOT take a new W2 job in the 60 days. WF will find out when your SSN is reported to Social Security upon starting the new job. You must see with all we are doing to get people to quit without severance that they have a process to catch this. If they do, you lose your severance. It's not worth the risk if you have lengthy severance. Once in the severance period they will change to a lump sum payment to save on ongoing benefits costs. Everything WF does is to help the company not you so think that way. Now an under the table job, 1099 job, etc. they will not catch unless your stupid enough to post it on social media. Relax or volunteer with a non profit for awhile.
@1bia+1rElH64h Your information is factual BUT there is also timing to account for. I would not give a second thought about starting a new position inside my severance period. I would give only momentary pause to starting in the notice period.
You’re talking about the onboarding company being Johnny on the spot updating your employment records and then Wells proactively monitoring it. I am sure there are people or even entire teams dedicated to looking for overlapping employment at Wells but come on, look around at everything you see here. How good could that crew of people be? They can’t even calculate RTO correctly.
Yea this is the anonymous internet but I’ve done it before, taken a new position while collecting severance. In-fact it was less than a week after being laid off that I was gainfully employed again, double dipping for 2-3 months.
It gets reported to credit bureaus. Equifax has a service called The Work Number that companies can contract with and look up anyone. Other credit bureaus have similar services.
I’ve always wondered how would they know? like how would they know you got another job outside of WF to forfeit the severance. If you do not bank there how would they know? seriously
btw, if you find another position at WF within 6 months you retain your seniority.
Do not accept a position within your 60-day notice period as, technically speaking, you still work for WF. If you do accept it (and it’s not another position with Wells, you will not receive your severance package.
Thank you everyone for your kind responses. Take care and best of luck
@yjh+1rElH64h it’s outlined in the employee handbook.
I think that means looking for a job internally. Certainly if you found a job outside of work during the 60 days you wouldn't get severance. Find a job internally or ride out the 60 days. If you find a job outside, just make sure your start date is after the 60 days
Do you mind sharing what is the severance package? 4 weeks pay per year worked? 2 weeks pay? Please let us know.
Assuming you were laid off on 3/12, your 60 day notice period started 3/13.
That means a new job start date should be on or after 5/13.
That would be ideal as you would get a break and then be double payed as long as your severance lasts.
Just be sure to get your tax withholding correct during the double pay period.
Take a 2 months break. It is worth it.
Don't start a second job until your notice period is over, else you will forfeit your severance.
Yes, because you're still technically "employed"
- they have to catch you.
- they aren’t that smart.
If you get hired back at WF within 60 day notice period, you forfeit severance.
If you get hired at a non-WF company within 60 day notice period, you forfeit severance.
The only option to get severance (if that is your hope), is to remain unemployed for those 60 days.