Thread regarding Verizon Communications Inc. layoffs

I heard that one group in GTS was told in an all hands last week that they had exceeded the vsp target take rate and were planning to deny many and then rif others post vsp. How can any company get away with that? It sure looks like they are being very selective of who they want to leave.

A good friend of mine from HR says the company is studying sweetening the pot to get the numbers up

Appears that some didn’t read the FAQ. Clearly states you would only get VSP package in a RIF if signed up for and were denied. As for VSP take rate, that’s anyone’s guess as HR has indicated director’s/dept heads would not be notified of numbers until after 07/27.

"Per HR , we had 5500 volunteers as of Thursday, i’m keep in mind of many of them can unclick. I personally know of more than four people who reversed their decision. 2 were trying to use that as a bargaining chip and failed..." - @1tgq
🙄 😂 🤣
Two simpletons thought that would actually work? It's so transparent.
And, now, they have likely just made the RIF list.
"NO VSP FOR YOU!" (in my best Seinfeld soup na-i voice)

We were told 33,000 VZ employees were offered the VSP so if only 10% have taken it, that means 3300 employees have hit the button

Per HR , we had 5500 volunteers as of Thursday, i’m keep in mind of many of them can unclick. I personally know of more than four people who reversed their decision. 2 were trying to use that as a bargaining chip and failed. Bottom line is that rifs are imminent

RIFs are imminent whether there are RIFs or not

Had a 1:1 with my SVP this week. I asked about the VSP and was told the expected numbers were achieved. Not sure if that is company wide but at least in the organization.

Get out while u can the quarterly Riff is coming followed by merry Riffmas. The baby new year Riff the summer classic Riff and then the labor day Riff wash and repeat. This is getting old already. All in the name of keeping the execs rich. You know there are other business structures besides this one time for a change.

@OP = Fearmonger

"If you review the last email that was sent from HR, in so many words it states that you should not expect the same offer if a RIF ensues."

Hey OP, no, not "in so many words." In very clear language as stated in FAQ #22.
This has been known for weeks and weeks.

From OP: We received the confirmation that we needed during the All Hands Meetings this week. The Company’s expectation was to get a minimum of 15% for VSP opt in, unfortunately only 10% of the employees hit the button.

the all hand meeting is just for your own business unit, it does not represent entire company.
You do not know the take rate for all eligible employees
How do you know The Company’s expectation was to get a minimum of 15% for VSP opt in, ?

I also heard a good percentage of people pushed the button. But, yes, probably just my work group. We still tend to skew older even after the jailbreak of 2018.

The number of the actual acceptance rate is pure speculation right now. We we learn the actual number in due course. People have made their own personal decisions and we will see what happens. it is what it is.

You are misinformed about the take rate, unless you are referring only to your business group. That being said, there will still be RIFs. Maybe not by end of year, but certainly by the end of Q2 2025.

Imminent is a bold word. You make it seem like happening right now. You will probably have a merry RIFMAS

I am hearing different, perhaps just relevant to my work group, but I'm hearing take rate was very strong.

It's only if you volunteer to take the VSP and are denied, but then RIFed between now and March 2025 do you qualify for the VSP package. If you did not volunteer for the VSP and you get RIFed, then you get the standard package.

I do believe in the initial package it was stated that if you are let go between now and March you would get the same VSP package.