Does anyone have specific details on what Verizon is offering for this 2024 VSP? I heard management employees have until September to put in their paperwork.
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Decision by end of July
Notification of accept/reject mid August
First off payroll date mid Sept (STI paid for 75% of year at 100% of target)
Second off payroll date end of December (STI paid for 100% of year at 100% of target)
Third off payroll date end of March (2024 STI paid for 100% of year at 100% target, 2025 STI paid for 25% of year at 100% target)
3 weeks pay per year of service capped at 60 weeks (min 4 weeks)
Paid medical at current elections for length of severance period
Accrued vacation paid (and PTO in states where that is applicable)
Accelerated vesting of Stock Together
No REHIRE
STI payout depends on when you leave the company so if you leave in sept it's pro-rated 75% vs if you left in Dec 2024 you get 100%
I was part of the RIF last week but my manager called me about them matching the VSP package.
Was told 3 weeks for every year, full STI payout instead of 75%, and 3 weeks for every year for COBRA health insurance. All capped at 60 weeks. I haven't received my updated severance sheet yet but my manager was offered VSP and that's what she had (she is not taking it).
Can give more concrete info once I actually receive my updated sheet