Wells Fargo has announced layoffs for 2025, with initial impacts focused on their operations centers. If you're at Wells Fargo or watching these changes unfold, we've prepared this guide to help you understand what to expect. We'll break down the current situation, analyze past severance trends, and show how Wells Fargo's packages compare to other banks. Plus, by sharing your severance details on fired.fyi, you can see how your offer stacks up and potentially negotiate a better package.

Wells Fargo Layoffs 2025: What We Know So Far

Wells Fargo recently announced plans to close its global operations offices across Salem, Hillsboro, and Portland, Oregon by the end of 2025. This move will impact roughly 700 employees in Oregon alone. The company has also filed a WARN notice for layoffs at their Jordan Creek campus in West Des Moines, Iowa, set for February 10, 2025. These numbers suggest this could be the beginning of a larger restructuring effort across the organization.

These changes are part of Wells Fargo's broader strategy to streamline operations and reduce operational costs. The bank states they're working to "bring the majority of our non-customer facing positions together in locations best suited for our customers and our company." Internal discussions suggest additional layoffs could occur between February and April 2025, though the bank hasn't confirmed these discussions. The timing aligns with the bank's historical pattern of implementing organizational changes in the first half of the year.

Despite the workforce reductions, Wells Fargo's financial outlook remains strong. The bank just posted solid Q4 2024 earnings, with investment banking revenue exceeding expectations and an improved forecast for 2025 interest income. CEO Charlie Scharf has expressed confidence in the economy, noting it's "strong" and "positioned well into 2025." This suggests the layoffs are more about operational efficiency than financial necessity.

Wells Fargo's Previous Severance Packages

Recent Severance History

Wells Fargo has maintained a consistent severance framework in recent years, with packages primarily determined by tenure and position level. Here's a comprehensive breakdown of their standard offerings:

Base Pay and Notice Period

• 8 weeks minimum base pay for employees with less than 3 years of service
• 2 weeks per year for longer-tenured employees, with a maximum of 52 weeks
• 60-day paid notice period during which employees maintain full salary and benefits
• Option to receive severance as either continued regular payments or a lump sum
• Additional considerations for employees at director level and above

Benefits Package

• Continuation of health, dental, and vision insurance throughout the severance period
• Full payout of accrued and unused PTO in final regular paycheck
• Annual bonus eligibility typically requires active employment on payout date
• RSU vesting generally stops at termination date, with some exceptions for retirement-eligible employees
• 401(k) matching continues through the paid notice period

The package also includes career transition services and immigration support for visa holders, though the specifics of these programs vary based on employee level and location.

How Wells Fargo's Severance Compares to Industry Standards

A detailed comparison of severance packages across major financial institutions reveals important distinctions:

U.S. Bank

• 1 week per year for employees with less than 15 years of service
• 2 weeks per year for those with 15+ years
• Minimum 4 weeks for grades 4-13, 12 weeks for grades 14-16
• Recent policy changes for acquired Union Bank employees have resulted in reduced benefits
• Healthcare continuation varies by tenure and position level

BNY Mellon

• Current standard is 2 weeks per year, maxing at 52 weeks
• Potential policy changes under discussion may reduce to flat 2-week packages
• Executive contracts may provide different terms
• Strong career transition support services compared to industry average
• More flexible healthcare continuation options

USAA

Employs a unique calculation method:

• Full-time employees receive the greater of:
  • 2 weeks per year of service, or
  • 2 weeks for each $10,000 in annual salary
• Part-time employees receive half these amounts
• All packages cap at 52 weeks
• Comprehensive healthcare bridge program
• Additional support for military-connected employees

Wells Fargo's package structure positions them competitively within the industry. Their 52-week maximum matches the market standard, and their tenure-based approach provides clarity for employees. U.S. Bank's offerings tend to be less generous, particularly for long-term employees. BNY Mellon currently matches Wells Fargo's approach but may become less competitive if rumored changes materialize. USAA's formula can be particularly advantageous for higher-salaried employees but may disadvantage others.

What to Expect from Wells Fargo's 2025 Severance

Based on historical patterns and current market conditions, Wells Fargo's 2025 severance packages are likely to maintain their established framework:

Financial Components

• Base severance maintaining the 8-week minimum or 2 weeks per year structure
• Continuation of the 60-day notice period with full compensation
• Flexible payment options between regular installments and lump sum
• Possible adjustments to bonus treatment for mid-year departures

Benefits Continuation

• Health insurance coverage throughout the severance period
• Standard treatment of unvested equity compensation
• Maintained retirement benefit accrual during the notice period
• Career transition support services

It's important to note that these terms are projections and final terms will be confirmed in official communications. Employees should monitor company announcements for the most current information.

Looking Ahead

While we await Wells Fargo's official announcement regarding their 2025 severance terms, you can prepare by reviewing our comprehensive severance comparison library. The collective data from past packages provides valuable benchmarks for negotiation. If you receive a severance offer, contributing your package details to fired.fyi strengthens our dataset and helps others in similar situations secure fair terms.

Understanding your options and market position is essential during organizational changes. Take advantage of available resources, stay informed about industry standards, and consider consulting with an employment attorney to review your specific situation. With proper preparation and information, you can navigate this transition effectively and position yourself for future opportunities.

We wish you the best of luck.