It seemed like Joe was soft pedaling the VSP. Seems like this was forced on him.
Already hearing management teams have the final say and since there won’t be backfills they will deny.
On the other hand Joe said the VSP may be a useful tool going forward.
Confusing times.
They never said there would never be another VSP. They said there were none planned. Big difference.
Verizon lied again. They said in 2018 the VSP would never be offered again. Well, hello 2023 VSP.
+/- 105,000
Currently, what is the VZ employee headcount?
Joe Russo: Executive Vice President and President - Global Networks and Technology
Who is Joe?
Headcount reductions are a Joe specialty. He's the lead cheerleader for these types of things. He just plays it off like its unfortunate. He can easily measure cost "benefit" to the business by removing heads. He has no idea how to add value any other way.
Basically if you got a VSP offer your time is ticking anyway. Unless you are promoted you would be a fool not to take the offer.
Lots of misinfo in this post
Eligible pool > 30,000
There will be very few rejections
There will be backfills where needed
Final decisions between leadership and hr
There will ALWAYS be RIFS, regardless of the number of volunteers
The offer went out to 15000 employees. My guess is that the magic number including VSP and after with the RE-Org and RIFS , I think the magic number they are looking for is 10K. Because there will be a Re-Org and RIFS after to make up for the rest of the 10K, these RIFS at that point will be at Manager descretion. Just my Opinion Though.
Those people in their 80s live to work it gives them purpose and all that. My father only stopped working in his early 80s because he was nearly blind and deaf and felt he couldn’t work the machinery at work safely anymore. If it wasn’t for extreme macular degeneration he would work till the day he died.
Upper management was told that they would have to make it work with what they have
Just look at network and how many are in their 60s and 70s that were offered. There are people in their 80s.
From what we have been told if we were in a group that was critical we wouldn’t have gotten invited to volunteer.
I’d be surprised if managers just get to deny all they want withiut all kinds of approvals. They want heads gone in the US in any role they can send overseas.