Hey gang, I know back in 2018 if people were rif'd a few months earlier they got the extra 25 weeks on top of the standard 35 weeks of RIF.. anyone here anything about this?
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We got a new Finance lead, J. Rodriguez who was head of FP&A at the Lake Mary Verizon office. Was this exec part of the layoffs?
- Anyone RIFed last Thursday will get the enhanced package per HR.
Is FP&A on the chopping block in Lake Mary??
No one would face any legal results. It’s the difference in eliminating positions that they know they don’t need to ones they’d like to transform: my understanding is anyone from this day forward will get enhanced package if RIF, but those already notified will not.
RIF was 35 weeks// vsp is 60
If you are already off payroll, there is no change for you. If you were notified but still on payroll, you will get enhanced severance.
there was no lawsuit. Just the threat of one by 500+ employees.
@wrz+1sRLZU0K yes
And for VSP, what’s the structure? 3 weeks for each year of service? Is STI paid at 100%?
From what I was told it took a lawsuit in 2018 to get the same package the VSP offered.
Standard RIF is 2 week/year capped at 35 weeks, including paid medical for that time. You also get prorated STI paid at 75% target and accelerated vesting of RSUs.
I hope so too. I was RIF’d in February (still have some time until my last day).
What is the standard "RIF" package anyway, 2 weeks per year and prorated STI? Stock awards vested?
If that's the case then the only difference with the VSP is 3 weeks vs 2?
I hear the same thing about what happened in 2018, but no word about the current 2024 VSP just announced. I was notified last Thursday and "RIF'd" so I would hope the same would be true this time around or Verizon face seriously legal issues as a result.