Laid off (was not eligible to volunteer for VSP but received it). I have an offer to stay, but it’s a lower band. Base pay will drop from $114 to $79k. Stay or take VSP and walk? Payout is 57 weeks.
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I would take it, if you stay you will end up at HCL and get nothing.
Don't believe this at all but why are you asking us? This is a family decision.
This is a bs post. When you get rif'd and moved to a lower band, your current salary is frozen if your pay is above the band you are going into. They don't cut your pay. I know firsthand with myself and many others.
You worked for 20 years, and your salary is $114k?
Do you work as janitor head?
Absolutely VZ will move you and put your pay in line with the capped salary of that role
fake post
Correction below, they did move to lower bands.
I call bull do---o, in the 30 years here I have never heard anyone get less pay. In the past directors became sr managers and sr managers became project managers, but they kept the same pay and band. It was just a title adjustment that the person's requested. Maybe in certain groups this might have happened, like going from hourly to salaried and lost allot of overtime. Or loosing shift diff....ect. I could be wrong of course, but you would hear about it since someone would have mentioned it at least before in this board
How difficult will it be to find a new job with minimum $79K salary?
Since you had been selected for RIF this round, you may be in the same position within a few months with the standard severance package.
If you remain with VZ, is it with the same team working for the same manager that selected you to be laid off?
It may not seem difficult to swallow your pride, take a huge reduction in pay, and be expected to perform the same responsibilities as before while making $114K, but it will eat at you.
We all need a paycheck, but what they want to accomplish with you and many others is just another part of their big plan. VZ talks about how much their employees are valued, offers such as this prove otherwise. They realize that we all need a paycheck, so rather than treating you and others as a decent human being and employee, they are taking advantage of being in the position where they can provide a take it or leave offer. It proves they care nothing about the employee and everyone now realizes why all the unnecessary band changes. When VZ makes changes while touting as better for the employees, strap yourself in tight or you will be washed out the door when the V tidal wave hits you.
Personally, I could not report to someone or provide any level of trust, if this person attempted to lay me off. Then returns with a roughly $40K salary reduction like they are throwing you a bone. This person pats themself on the back for taking care of the company then will tell others how they fought to keep you employed.
Hopefully, you are a better person that me. There would be no decision for me to make, except for maybe the choice of words for the person trying to reduce my salary $40K.
Good luck and hope you make the decision based upon your needs.
BS VZ can not demote your salary that’s unheard of…. They would have just riffed you what’s the point
Vz has an initiative to lower the pay for its workforce. They will do that by pushing out those with higher salaries and replacing with lower bands. Thats why they are offering VSP’s.
OP , what band are you and what band will you be? Are you dropping from a 7V to an 8V?
get the he-l out of that toxic environment. it will affect your health and personal life. close to 60 weeks is pretty unheard of so leave, get something else and do not look back.
Don't walk - RUN!!!! The VSP is very generous and you can cash out and go work some place else. Bet on yourself. NOW IS THE TIME. If you stay, YOU WILL REGRET IT.
@ghu+1ucUc09P it means they are on an excluded team that is now undergoing a RIF. Hence the enhanced severance. The option to downgrade does not surprise me though. Wait til you see how many VSP backfills are done at a lower level, where they choose to backfill that is.
Lol good for you
Can you explain a little more about this? "was not eligible to volunteer for VSP but received it"
It's a personal decision, obviously, but I would find this incredibly insulting. Because it is. Fudge that sugar. If I got offered something like this, it would just reaffirm that I made the right decision to take the severance and find somewhere to work that at least respects me enough to pay what my skills and experience are worth.
No one can make that decision for you. Grow some nads, do the analysis and figure out what works for you. So sick and tired of people who can’t figure out their life!!!!
Walk, for sure.
So that’s the plan. Reduce payroll post vsp. First I’ve heard of this offer to lower job pay to stay. How you can take vsp.
Take the package! It comes with placement services and if you follow their guidance you’ll land a job soon.
That's a pretty significant drop in pay. If you are close to retirement or have confidence you can find something better in the year + you are getting for severance, I'd go. It's going to get really ugly around here. Curious what LOB you are in.
For sure go, $100K plus jobs are a dime or dozen out there. Seek your fortune and don't let the man dictate to you what they think that your worth is!
How far are you from retirement?