Here's the risk: those who didn't take the VBO are already 'on a list'. They are next to go if the economy takes a downturn and Fido has to enact layoffs. The downside is the layoff package won't be as generous as a VBO package. They ‘dripped’ out 450 people (who passed on the 2017 VBO offer) during 2018 through end of 2020. [ @2psq+1bJ2MDba ]
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This is perhaps even optimistic: that the layoff package will not be so generous. On the other hand, some think that they won't even give it to us. I don't believe it, but still...?
5 replies (most recent on top)
Taking the temperature here.
Who is taking it?
Lets not kid ourselves here. Any layoff package will definitely NOT be as generous as the VBO packages. Fido rolled out the red carpet for those taking the VBO. Standard layoff shows you the back door into the alley :-)
Fidelity is masterful at eliminating small pockets of jobs & employees and keeping it out of the press. Bottom line is if they didn't get the numbers they wanted from the VBO offer, they will accelerate job reductions in small waves over the net few years. You just won't get the extra cash bonus, extended healthcare, white glove treatment on the way out like the VBO folks got (career coaching, kudo board, co-----l hours etc).
I believe the standard Fido layoff package is 2 weeks of pay per year of service, which is standard for many companies. Not sure on the medical, dental and vision coverage with the standard Fido layoff package though. You definitely won't get the VBO cash bonus or the 2 years of subsidized medical, dental and vision (with a more expensive continued coverage option till you are 65) that the VBO covers.
OP, what you say has some merit. Just my observation..... If you qualify for the VBO, take it. Nothing is stopping the VBO folks from 1. enjoying 6 months or a year or more of paid vacation 2. enjoying a lifetime of vacation and doing stuff for you, not for money, forever and ever. or 3. Just finding another job outside of Fido. What's to lose? I believe the odds are stacked against the ones that decline the VBO.