VZ Hiring Back in Finance IT Teams

VZ is hiring back folks that were sold to INFY in this great "profit making" deal. They have already hired couple folks back to Finance IT as they have figured out that the new 2.0 leaders mostly qualified for the reasons of Nepotism and friendships are worthless.

The worthless managers were held together in their jobs with the help of strong and qualified technical SAP members who were sold to INFY. Now they have realized that they are not worth anything without those strong technical people and need to hire them back to complete the verizon month to month process. It was revealed that the managers and directors survivals were tied to the performance of those strong SAP and pep soft folks who were sold to INFY.

No one will admit that it was a BIG MISTAKE to sell your best qualified members to INFY but they are realizing their mistake now. For eg...the worthless SAP manager who does not know jack of SAP has no idea how to run a SAP shop. The worthless SAP manager is hiring back his SAP experts now so that he can justify the salary and bonus he like to draw each month.

How unfortunate is it that verizon sold their folks to INFY at the time when payrol rates are significantly higher outside. People were working for vz for the loyalty they had even though they were getting paid 20% below market. Now when vz brings those people back they will demand 20% higher in compensations.

And if you are going back, ask for a band and salary increase. You should ask for at least 20% more than what you were making before. These loser of a managers are desperate to hire you back and you should use that to your favor.

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I hear they are going to hire nasty little franny back. He wants another crack at transformation since he did not get it right for 7 years. What a misfit

@10LriURZ-3bjg - verizon pays between $125 - $160 per hour based in experience for independent contracting in Finance IT. That is what they pay to the contracting company. Now lets say that you are able to get about $100 – $140 from the contracting company which translates to $200k - $300K per year. How much of that amount is enough for your 401k, profit sharing, and health care off settings?

Dont get hung up on the "benefits" You need to value your benefit and ask cash in compensation for that. My calculations say the benefits of Bonus, 401k, profit sharing, and healthcare is about 50% - 60% of your baseline salary. When you ask for an hourly rate as a contractor your math should be your base salary per hour and multiply that by roughly 2.5 times.

@10LriURZ-2tvd By benefits, I am referring to the combination of Verizon medical, 401k contributions, bonuses and corporate profit share. Combined it's a chunk of change, so your hourly rate from contracting needs to offset at least part of that. Meaning it should be higher than your cycle rate as a Vz employee. Bottom line your total comp will be less as a contractor.

@10LriURZ-2tvd I think what he meant was Verizon doesn't pay benefits. Almost all contracting companies provide benefits for a cost. Its taken from the compensation received from Verizon and hence the payment to the individual will be even less

Actually -uwr, the theory that when you come back as a contractor you don't get benefits isn't always correct. Get someone at VZ who wants you. Specifically you, then go through one of the approved contracting agencies. They pay benefits. I spoke to one guy (let go from VZ years ago, now a contractor) who pointed out that the health package from his contracting agency was the same as the one he had at VZ. The only significant detail was that this company wouldn't match his 401(k) contributions.

a former RF engineer and 12/28'er

Well...you want to go back if you cashed out $30k sign up bonus and VZ hires you back with 20% more in salary and increase in band.

Shankie's loss is your gain.

why would anyone go back? Ridiculous. Only takes me once to get burned.

This is B.S. No one was hired back from INFY as an employee. However it might be possible that some who took the ESP are coming back as contractors. You may get a higher rate that way, but you don't get the benefits. So total comp is still less than when an employee. Vz pay scales are not 20% below market, however an individual employee could make below market.

While I enjoy watching InfoSys fail at this endeavor, I still don't think the executive team much cares. The stuff we worked on wasn't the dazzling, shining ooh ahhh "transformative" stuff. It's the stuff that makes the company hum along and is only noticed when something goes wrong. They MIGHT care if there's a major network outage attributed to outsourced work. I don't know what areas outside of Finance and HR/Payroll that were impacted by this deal.

Correct the finance IT team is now simply talkers and project managers. The leadership thinks going to the sap cloud ensure you don’t need technical skills or knowledge of the Verizon processes and impacts to the system.

That is the worst logic possible. Agree this has gone down hill fast with the changes

Interestingly, the SAP folks who were sold to INFY are also quitting one by one.

This will leave VZ with just non SAP managers and non SAP talkers. Who is going to do the actual task now??

So INFY agreed to transfer these people back to VZ? Its good for them. I am surprised though because if the same people are working on the project, how does it make a difference? Or is it that they are not able to do their job with the security and other restrictions that INFY employees have to go through

Sadly we have no IT leaders in finance who understand technology or people. All the good Directors and VPs left. We continually mismanage given the lack of technical acumen, business skills and leadership in this org; and it shows with the talent drain. Sad how far we backwards we have gone In 2 years

Thread regarding Verizon Communications Inc. layoffs

VZ Hiring Back in Finance IT Teams

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