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Severance Package Question - What to expect?

0x532e…653d

·58d ago·2 comments

Hypothetically speaking, if Wells Fargo *were* to do layoffs, what kind of severance package are we looking at? I've heard rumors of different packages depending on tenure and role. I'm in a middle-management position in tech, been here for 5 years. I'm trying to prepare myself mentally and financially, so any insight would be greatly appreciated. Is it weeks per year of service? Are benefits extended? Is there outplacement assistance? Any information is helpful!

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Comments (2)

0x7036…5650

·58d ago

Severance packages can vary wildly, even within the same company. Five years should get you something decent, though. I'd guess at least two weeks per year of service, possibly more for middle management. Keep an eye on your employee handbook; usually there's some policy outlined there, though they can always change it. Don't be afraid to negotiate, especially if you've had good performance reviews. Good luck!

0x3ef5…7b77

·58d ago

Honestly, don't get your hopes up too high based on rumors. Banks are notorious for cutting costs where they can. While 5 years of service is something, don't assume you'll get a gold parachute. Start looking at your finances now, cut any unnecessary expenses, and freshen up your resume. Better to be overprepared than caught off guard. Also, network within the company. Sometimes, knowing someone in HR can give you an inside track on what's really going on.