Thread regarding Verizon Communications Inc. layoffs

@1gqu+1pezEUe3 it absolutely is a severance package. It is only paid when you are rif’d. There is no severance paid if you choose to retire (in that case you are resigning).

Trust me, I have first hand knowledge regarding Verizon severance payouts.

Rebadging and rif are two very different things. When the company rif’s someone it’s because their position (and their services) are no longer needed by VZ. A rebadge is done when services are sold off to another company. The services are still needed but will now be done by non VZ employees.

Hey @ojd+1pezEUe3, that package is not a severance package. Severance is very plainly outlined on VZ site. The weeks of pay for years of service package as become 'normal' for management employees, but it is not an official retirement package policy....it's just what they've been doing. They now found a better way to do it by re-badging instead of RIFing.

They did a version this in 2018 and lost too much talent. Incentivize the top performers who have options to leave and well…..they leave. Surprise!

It’s weird they eliminate jobs for cost and they look at a broad picture of what can be done cheaper elsewhere. But meanwhile we have literally hundred millions of dollars worth of work in my area that if insourced would save 10x the cost of the work paid and save existing employees through cost reduction. It’s provable by the numbers but they say “it’s a different budget”… hello AT THE EARNINGS CALLS ITS ONE BUDGET.

If an employee is interested in taking a RIF, they should be talking to their manager/director and asking to be put on the top of the list. Save someone else who needs their job.

I was laid off in May and was not sure what to expect. It was a blessing in disguise. So glad to be away from the toxic workplace and leadership. No more gaslighting, brain washing, terrible treatment. Nothing will improve at VZ. There are never any new ideas. It's nice to be doing something different and learning something new. There is life after VZ. You will be surprised what it feels like to work in a healthy environment without all the stress, pressure and BS that never goes away or stops.

Hey @ baq+1pezEUe3, you are clueless. Verizon has been paying severance for decades. It’s 2 weeks per year with a max payout of 35 weeks.

I remember working with some volunteers who were waiting for their shot at a rif. They just sat and read books at their desk or socialized all day if they bothered to come in at all. If they could handle doing nothing for years I don’t understand the race to take that voluntary but the ones I know took it.

I’m too young to have any potential retiree benefits so maybe that is the difference. I don’t think I could do nothing but if I did I don’t know why I’d leave. I would like a rif though because I feel too guilty to quit since I won’t be backfilled but if they riffed me it isn’t my fault and I’m in the clear.

Because they don't layoff people. They eliminate unnecessary roles. Or at least that is what they are trying to do.

Post ID: @riy+1pezEUe3

Good feedback.

Why would people who have successfully quietly quit (but are managing to get paid, plus market leading benefits) want to leave and actually have to work? I don't believe it. Our quiet quitters are desperate to hang on because they know they can't hide elsewhere.

The VSP a few years back was a one-time offer. The packages that some have gotten used to over the last decade where you get a week or two for every year of service is much more costly than doing the 're-badging' strategy that they used w/OMs when they signed a contract w/Accenture, w/techs when they signed a contract w/Infosys, and w/all post-sales management when they signed a contract w/HCL. 'Severance' as it's been branded on this site, actually does not exist for any 'management-level' VZ employees. If you read what ACTUAL VZ severance applies to, it's almost nobody. The 'packages' given out for a RIF in the past is different, and is not official VZ policy. The cheapest way is to do a re-badge with a 1 yr contract or whatever, then when Accenture/Infosys/HCL etc 'negotiates' a new 1 yr contract they offer the Worldwide competitive offer which is less than 1/2 of what any VZ employee who's been around more than 3 years gets, and lousy if any benefits.

@vuj that isn't always the case. In our department we had five compensation analysts. Our org was told to cut the staff budget by thirty percent. They didn't cut roles, they reduced the number of analysts by 2. Both were the most senior members who were the most important members of the team. The employees who remain don't care about their job. They are younger and paid less. They would have hit the door if offered and have made it no secret they are just waiting to be paid to leave.

Because they don't just arbitrarily pick people as some people may believe. From a company perspective, they don't eliminate people, they eliminate roles, responsibilities, redundancy, etc. And where they need to keep said things, they look to see if it can be outsourced cheaper.

That being said, in the old days when directors etc, were a part of the selection process, they often would solicit their peeps when they were given a number to reduce. They generally are not part of the equation any longer.

Terrible idea.

Couldn't have said this better. Just ask, and there is no need for preferencing a specific role or severance. I would bet they would get all those who have quietly quit step up take the severance and leave in a heartbeat.