Anyone hear of any rumors about a buyout package being offered by years end?
34 replies (most recent on top)
Suffolk county will be a Ghost town if they offer any type of Incentive. Lotta people out here just hitting the 30 year mark and the level of frustration seems higher than ever. Fingers crossed
Fact?
My director told his first liners that a package was coming out, no other Details were giving about the package. System techs would replace CO techs if needed. Also they’ll be a riff for Management mostly basking Ridge. Central Office first liners and field first liners are safe. The package will come out in the fall.
@czrk: Do you realize that typing "fact" after a statement doesn't make it one?
Do you realize it doesn't make you look more credible?
UPS tracking.
How do U know it’s a fact???!
Package is coming...Fact
IMO, for management no enhanced package and no outsourcing of transferring managers to third party vendors, just offshore fixed price statement of works coupled with standard RIFs (up to 35 weeks severance).
A package for the union is needed to hit the $10B savings mark. The big question is would the package be delivered in 2020 or 2021?
All the reasons you give for the company not offering a package make sense, but this company never does anything that makes sense!
Funny thing is I've been hoping for another VSP for the past year but now I've decided to retire in late 1Q after my 2020 STI and RSUs are paid out so I'm actually hoping there isn't a package since based on last time it would require me to document my processes, train my replacement, and potentially stay until mid 2021 depending on off payroll dates. If there isn't a VSP I can just say sayonara and give 2 weeks notice. Buh bye.
Highly doubt a package is coming in any across the board sense. People are leaving without any incentives now to the point where the company actually needs to hire. Many will be leaving before 2023 without a package. Don't see where the company is going to throw that kind of money out when it is not needed.
It didn't happen last year. Everyone that wanted it ,got it.
Ah yes, EISP season is here. For the next 3 months, entitled associates will grovel on here for a handout and then by December, all their hopes and dreams shattered. Happens every year!
"I heard the new VSP will be even more lucrative than the last one. Too bad you have to be management to get it."
I sincerely hope you are correct because I need to escape the hellhole of VBG finance. I didn't volunteer for the last VSP but will be first to smack the button for this one.
Represented switchmen in Phila. area will get an offer in 4th quarter.
@2rgg+16yNPS69 Covid gave them the best opportunity EVER....they’ll save it with Real estate
Covid 19 may be used an excuse for making 2020 a special year, allowing the company not to meet the promised $10 B reduction by 2021. Otherwise, a package would be the most evident way to achieve that goal.
Supervisors were asked how many in their group might take an offer. So, yes, there is some thought being given to making an offer. Time will tell.
TOO BAD YOU HAVE TO PAY FOR MEDICAL, YOU WILL NEED IT.
I heard the new VSP will be even more lucrative than the last one. Too bad you have to be management to get it.
Every November, off by December.
Probably the same package as last year.
Except... 1991 was a huge hiring, and all those people will have 30 years next year. So, will the company let them die on the vine, or incentivize their leaving? They know many are going to leave at 30 with or without a package because “a bird in the hand...” and why risk losing it all to hold out for an extra few bucks? I think they will offer another package to field techs, but I’m sure they’re aware those people will go either way.
Every Oct/Nov or Holiday Season.
To the last poster: you might have something regarding the line gang, but how dare you leave out the flaggers/locator technicians, they should have been included in the ones who are the backbone of the company. I would love to see the wireline group without flaggers, total collapse .
To the last poster. Ever notice NO ONE in construction ever retires? Maybe start working by 10am, done by 2pm, it's ridiculous. Service tech's and splicers are what keeps the landline side going, and they are retiring enmasse.
A lot of dead wood on the construction side of the house. Some guys don’t even help their partners and get p-ss-d off when they ask them to do something.
Then there are the Union guys who are out just for themselves. 1/2 liners.
if dead wood could speak.it would say pick me, pick me
You can’t rif union members. I think there has to be at least 2 buyout offers before a layoff.
Probably regular eisp package 76 k extra for 30 yrs
Doesn’t ip come out every year ??? Extra 70g included
What incentive does the company have to offer a more expensive buyout over just riffing people?
Before last year the last buyout was like 10-15 years ago. Seems unlikely that you'd see two within a 3 year span.
Hope so. get rid of some dead wood.
Inside only. 5G will keep techs busy in northeast.
1101 here. Think it will be like last year ?? Finally make my numbers in November. Enhanced would be great. Field tech
Yes. Oct/nov