Thread regarding Verizon Communications Inc. layoffs

It never hurts to look around the job market to see what skills are hot and use whatever education benefits you can get your hands on if your job leaves you enough time to study. The Rif package was marvelous in 2015. Not sure if it is still that good. Cobra paid for medical for 6 or 7 months. Network with trusted friends to vent a little as a stress reducer. The older you get, the more likely a Rif and heaven forbid you get a little health problem. I guess try to look at yourself as a contractor. The company that cared about your career and well being is long gone, but there is still a lot of pride in knowing that Verizon is a powerhouse telecomm. I used to go into work with my spouse in the evening sometimes and when we got near the company driveway that Verizon sign lit up the dark and it was just so cool to be a part of it. I know that sounds corny when Management has taken such a turn for the worse, but the core people are still doing great work and are nice. I hope you find some answers. Seems like management changed quite often for my spouse so maybe you will get a better manager soon. I don't know if I just told you to stay or to leave, a little of both I guess!

Well said 1jqq...cannot stop laughing at the living in the car remark. A millionaire in 10 years? Hardly. I'm kinda thinking there wasn't a car.

I spent over 20 years with the company. I let them pay for my education and countless numbers of continuing education courses. A lot of people say they can't leave because the money isn't out there. I am here to say that simply is not true. It was an eye opener for me. I left this year making more money than I did there with benefits package quite comparable. Do your homework and some research and you might be pleasantly surprised if you want out of a toxic organization.

@NYCWDMZ-1cbh..."it's tight but I'll have a nice nest egg when retirement comes around...."

That's just it, you WILL NOT be around Verizon when you retire. Are you kidding?

@OP @NYCWDMZ:

" ....My work environment is nearly unbearable currently, but these perks are so hard to let go of......"

Dont worry, it will not be up to you WHEN, NOT IF, you are Rif'd by conference call or e-mail and probably this year. Get your resume ready. and pay down your bills

Unfortunately i lived by your theory for too long. This kept me working in an environment that made me unhappy. By making the decision to make a little less and leaving, I have much better hours and a work/life balance that leaves me living a happier life. That is priceless and I have no regrets. I was a GM and did not like what I was seeing on a daily basis.

Not worth it if you feel like vomiting every time our leadership (VPs and above) work hard to maintain their status at the expense of the business and other employees.

I've been at the firm for 12 years now, and the last 2 years have become so bad that less money and benefits in exchange for getting out of Verizon seems like a deal.

There comes a point where job satisfaction is worth more than a 401K match.

While the benefits are great you have to ask yourself is it really worth it? the unreasonable expectations better yet demands you have to meet. The constant fear if your job will be eliminated. The ever changing "Credo" that only protects the company which leadership and HR hide behind as they change the rules. I recently made the decision to leave Verizon on my own after 18 years and watching the company as they care less each day about the employees. I can PROMISE you it was the best decision I ever made. I forgot what it was like to enjoy life! leaving behind what I see now was the most toxic environment has changed my life! If you are like most and absolutely miserable- have faith in yourself and get out of there and NEVER look back! Your health and happiness is not worth staying for fear that the "benefits" are better than other companies.

Lol he didn't say when he started working. I am on track to be millionare are by 40 as well by maxing out my 401k. I started working at 22 in 2011 so I've ridden the market up. It's doable and before a union employee chimes in. Yes a pension would be nice but my generation won't see em so screw it. 18k 401k+ 5k IRA plus about 7-9k company match and profit share...I live off 55k a year and it's tight but I'll have a nice nest egg when retirement comes around.

@jqq...you didn't read @byb's post. It didn't say just 401k resulted in a million...10 years of STI was saved which could easily be ~$200K+. I am not familiar with the VAR bonus but would guess that is a sales bonus. Depending on comp at time of layoff the RIF package with vacation payout and prorated STI is easily another $100K+. I think the numbers are very doable if someone exercised discipline and invested wisely.

My $.02 on the original post. I left on my own earlier this year. My new environment is SIGNIFICANTLY better. The grass is absolutely greener. I do agree that the Vz benefits are very good but at what cost to your well being? I took a bit of a hit on the medical insurance costs. The plan itself is pretty similar to Vz but I'm paying more for it. Even if my new salary did not offset the higher cost, it would be well worth it to me to have made the jump. The orgs I worked in and with at Vz before I left were not healthy places to be. You can't put a price tag on leaving that. I was at GTE and Vz for 20 years and saw a lot of change...most of the change the last few years were not for the better.

@byb millionaire in 10 years? Lol you would have to invest $6200 a month to make that happen, so even if you made $120k a year plus the IRS' max contribution of about $50k plus the company match of $7k you wouldn't even get close to a million. in addition after taxes etc you'd have about $1,500 a month in take home pay for food and sandals. were you living in your car?

@1mut you nailed it on the head. That's why this company may just very well be on its 2nd to last ever contract with union workers and the wireless stores are dying.

Some things are more important in life. Sure the benefits and 401k contributions were better with Verizon but I will gladly take the less stressful and more respected job any day of the week.

I only stay because of the benefits.

I worked my a$$ off for over 10 years at Verizon. My life was Verizon. Maxed out my 401k and invested all my STI and VAR bonuses.

When they laid me off in 2015, they had already made me a millionaire at 40 years old.

Now I have a far less stressful job and I am just cruising to an early retirement in about 10 more years.