UPDATE: Breaking News! Wells Fargo Auto Finance lays off
Apparently Wells Fargo Auto Finance located in Chester, Pa has laid off hundreds of folks today that work for their indirect auto loan business. The business is being moved to Wachovia pre merger. I can only assume that the other folks working for the indirect side of the business spread out across the country have been let go too.
My heart goes out to you guys and gals over there in Chester.
Wonder how they square spending 80 million for that new Soccer Stadium in Chester now with even more of their tax base leaving the failing waterfront area.
UPDATE: Part of an email that was forwarded to me:
email has been removed at request of sender
Damn you Barney Frank! You world economy fucker!!
This heartbreak stuff is going to wear you out, on dow jones market watch every day is a litany of pink slip totals from everywhere, yesterday the NFL laid off 15% of their workforce, Sesame street announced it will be killing off a yet to be determined number of characters due to declining revenues.
What the hell! Wasn’t Wells Fargo going to buy up Wachovia…after Wachavia screwed Citibank out of the deal? Profits over people!
Thinkin lots of people will have a new mantra which is an ole mantra. Workers of the World Unite!
Don`t get your hopes up Liz, your talking mostly to SHEEPLE.
What the hell! Wasn’t Wells Fargo going to buy up Wachovia…after Wachavia screwed Citibank out of the deal? Profits over people!
From what DV said, I get the impression this was the “redundancy” type of layoff and they chose to go with Wachovia’s unit over their own. Whenever banks get together, that’s the first fear of most employees, the redundancy factor.
On the other part, Citi (in my mind) had no business scooping up government money to turn around and buy a bank. Wells Fargo did it without government money. Citi is barely afloat as they are, so how in the hell were they going to leverage anything to buy another corporation? Don’t shed a tear over Citi in that transaction, they weren’t clean players as it seems you may think.
This was a redundancy layoff. There will be more to follow. WF Auto lost lots of money, Wachovia Auto didn’t. Hmm, which leadership team would you go with?
I just refinanced with WF Auto in New Castle. Hope they are not affected.
hope you don’t have to call customer service.
Besides, Bank of America is offering like 5.69 on refi’s!
Mr Viti forwarded part of an e-mail to us, which said:
removed at request of sender
Whoa! Now, if this person was laid off from the Chester site, he would be covered by Pennsylvania’s unemployment compensation laws. If so, he would not be eligible for unemployment compensation while “being paid until next August.” If he tries to do that, and gets caught, he will not only have broken the law, but he will have to repay the commonwealth for unemployment compensation fraudulently received and may render himself permanently ineligible for unemployment compensation. He would be allowed to file an unemployment compensation claim after the paychecks ended next August, but, even then, he’d have a “waiting week” in which no unemployment compensation is paid.
The e-mail further said:
removed at request of sender
Again, this is not true if he lives in Pennsylvania. If he obtains another job and earns money on the side, and he fails to report it when he makes his bi-weekly claim, he will have broken the law. If such side-jobs do not pay close to what he was earning before, he may be eligible for a “partial unemployment” check.
If this gentleman is covered under some other state’s unemployment compensation laws, what he wrote might be true.
“Sesame street announced it will be killing off a yet to be determined number of characters…”
That’s it, we’re fucked.
Dana, “being paid until August” and receiving a severance package are two different things, no?
Way to go after the fat cats, Dana! hold their feet to the fire, I say. Not a penny more!
Nemski, if the gentleman in question received a severance lump sum, he’d be able to file for unemployment the week after he received it, because he’d be getting no more. But if he’s “being paid until August,” as in a regular check, then no, he couldn’t file for unemployment until those checks are exhausted.
you’re a real douche by the way…man, if your comments on this post don’t prove that I don’t know what does.
anon, the “fat cat” in this case would be the commonwealth of Pennsylvania. The state legislature wrote rules to try to prevent abuse of the system.
In Pennsylvania, we have a “waiting week” before you can receive unemployment. If you are laid off at the end of week #1, you file for weeks #2 & 3 once your two weeks are up, but you only get unemployment compensation for week #3; week #2 is your waiting week, and you don’t get paid for it.
If there was no waiting week, a company could tell it’s employees, “We’ll give you a week off for vacation, but rather than us paying you vacation pay, count it as a lay-off, and file for unemployment for that week.” It would work easily. By having that waiting week in there, that kind of scam is minimized.
you see in the GOP world government is the abuser and fraud
back in the real world, Corporate America and the uber rich are the frauds and abusers
Keep policing the weak dana, I’m glad you are up to snuff on unemployment laws.
Mr Viti, how is telling you what the law is being a “douche?” Unless the guy in question either has a different situation than he described, or despite working in Chester is covered under the laws of a state other than Pennsylvania, what I told you is how the system works. Would you want him breaking the law and having to pay a serious penalty for it?
In Pennsylvania, if you receive unemployment compensation fraudulently, you can be permanently barred from receiving unemployment compensation again; that’s one of the legal penalties imposed by the state legislature. If someone is filing for unemployment here, he had better know what he’s doing, because more than a few people have gotten in trouble for it.
All I can say is that I worked there for a number of years and that building was incredible. I’m not a spiteful person and understand business is business. I hope the stadium does extremely well… if I can’t work at WF any more, at least the vision of the developers will provide jobs for thousands during the construction.
like I said, “douche”
go berate the elderly for having children or pouring cold water on someone at your own blog
Way I see it, more people should take the time to help others or register for the Army.