This has happened before. I remember when they offered 4 weeks per year of employment pay. Hard decision to make because who knows what is down the road, maybe you hate your next job. Some may not all agree to this, but Verizon has been a great place to work all these years. I remember giving my blood for money a couple weeks before getting hired. I'm considering options weighing it out. I worry what if they don't meet their goals and I want to stay? I like to think I'm not so vulnerable, but I assume nothing.
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I agree with you. Recently there were some changes in my group that I am not happy with.
No points for years of service and age for management. In fact they froze the management pensions 3 years later. They did offer a bonus ranging from 15,000 - 30000. About 21,000 people took it. Percentage wise, the take rate of the 2018 VSP was much higher and it was a much better deal.
Didn't they also add points to age and years of service in 2003? AND add extra money to your 401k, maybe. That didn't work out well for Ezra, but we lost - what - 25,000 people that year. It was a nightmare of lost knowledge. The paperwork now says MOST volunteers who are accepted will be gone on September 13th. Ninety-five days. Good luck to everyone, whichever way they decide!
There has never been a 4 week per year offer on the non-union side. The 2003 mass exodus of 21,000 people was a standard severance (2 weeks per/max 35 weeks). The 2018 offer was an exodus of 10,000 people with enhanced severance (3 weeks per/max 60 weeks).
Verizon is/was a good place to work, but if you are close to retirement, this is a great chance to get out with a nice chunk of change. However, unlike the last one, the rates are much higher, so you may want to wait a bit if you are considering a lump sum pension (assuming you've been around long enough to have one).
I would suggest everyone take the time to sit down with their financial planner to discuss their own personal situation. The company has given plenty of time in the plan to do this (unlike in 2003).
I got you. 22 years ago, getting hired by VZ Wireless as a contractor. That day on my drive home I flipped through my CD folder, plucked Steve WIndood, and blasted "Back in the high life." 2 decades later, I am still in the same job. Not mad, no blame, but I think it is well past time to move on. The first 15ish years of VZ were so very good to me. The last 7, I hung on because I thought I owed them something. I wish VZ and those who stay the very best. Who knows, I may be rejected and be one of those who stay. Best wishes to all, regardless of your choice.