our voices have been heard! I'm outta here! Good luck all.
31 replies (most recent on top)
Every six months ?
Normally joining bonus will be 20% of basic in 2 installments. Need to payback if you leave within 2 years.
I guess we have to wait till Monday to find the joining bonus terms. I am assuming the joining bonus will vest over a period. 50% seems a lot as it will be more than the VSP package for anyone having less than 8 years experience
Hearing 50% of CTC is the joining bonus. Is that correct? Anyone is having concrete news on this?
Good to hear @VAf7A4v-1yog! Makes me feel better about having to look for a job. At least now they are allowing us VSP if we don't take the Infosys offer.
https://www.wsj.com/articles/verizon-changes-exit-package-for-workers-it-planned-to-outsource-1539295703
@1wpw I don't know why you think nothing is changed. Perhaps you are the troll. I am one of the rebadgers who finally has choices and I will not be going to work for Infosys.
This is all BS from a troll. NOTHING has changed
@1pdd, Yes I was getting nauseous with all the people thanking the management for taking care of them (I guess that is the formal thing to do). This situation should not have arisen in the first place
I was a rebadged selection - So while I am happy to have options (and I am VERY happy about that), we shouldn't lose sight of the fact that good American IT jobs are being outsourced to an Indian company. Maybe Infosys IS trying to improve their on-shore (US) standing, and maybe the really want 'us' telecom IT employees, but with their history, I still believe they want to send the work to the cheap labor force in India.....
Shankars last stand?
This goes to show that whoever came up with the original VZ to Infosys transition, was not doing it in good faith.
They are fully capable of offering the VSP at the get go, but decided to stick it to the employees instead. If not for the threat of lawsuit, bad PR, etc, they would’ve gotten away with it.
There is definitely strength in numbers.
They don't want a huge class action lawsuit and knew it would happen if they didn't offer rebadged employees something.
Why couldn't this have been done before? Because of the greedy upper management who are nothing but bullies, cowards and hypocrites. Good luck all.
Congratulations to all!
this is great news for all impacted, an amazing turn of events and gives faith in humanity
Here are the salient points
Infosys will give an amended offer
-Two years employement guaranteed
-
Bridge payments to makeup for any compensation difference in these two years
-
Removed non compete clause
Employees have between 15 and 29 to accept these offers
If not taking the offer employees will be auto enrolled in VSP and accepted. They will be given an end date depending on transition of knowledge to Infosys (most expected to end employment by Jun 2019). If remaining on the last day, separation will be paid. All other rules same as current VSP offered to other employees
The email does say that most people will have the voluntary separation before June 2018. Looks like any transition/knowledge transfer will start in the new year - So Jun sounds just about right (not before)
Infosys modified offer is indeed coming on the 15th. Have to see what their bonus offering is. I assume it will be vested atleast 6 months after joining Infosys
All in all a much better resolution than the originally rushed Infosys offer - which sounded like a punishment. This atleast puts us on par with the other employees taking the VSP (even though ours is not voluntary)
Is there a new date for the Infosys offer? Its not going to be Oct 15th with all these developments
I got laid off last year (former XO), but the few people I knew, who remained, worked in IT with me.
This is great news. I guess Verizon couldn't take the bad press.
By the way, there's definitely life after Verizon. Unless things sour at the last second, I'm about to be offered work for more than XO / Verizon paid me. They need phone people and since I've worked on phones for 35 years, they don't seem to care that I'm 62.
@qqj. Most rebadgers accepting VSP will stay on payroll til end of June to transition work. Some may even stay longer.
Wonderful. Happy that almost everything got accepted
The only downside I see is - The last date is not clear and they will give only a month notice. I am not going to quibble
Infosys guaranteeing the job for 2 yrs without putting it anywhere is a joke
Congrats all, as non-IT following the efforts you did each day, this is a surprise and definitely well deserved.
@lvb Yes!
So you now have a choice go to Infosys or take the package??
This is great news
For those of you who want to leave, this is a no-brainer.
For those of you who want to or need to move to Infosys, they've sweetened that pot too.
I will look at the Infosys offer when it comes, but I am 99.9999% sure I will take the money and medical and run!
I am glad our voices were heard. IT professionals unite!
A joining "bonus" to go to Infosys. Hmm. I am a short timer so might take that bait.
Nice!
onshore yes!
I'm IT but not rebadged (yet, but probably coming!)
Don't leave us hanging, what's the email? All rebadged employees eligible for VSP?