https://www.wsj.com/articles/verizon-changes-exit-package-for-workers-it-planned-to-outsource-1539295703
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9 replies (most recent on top)
@2jtp so, when you say “we”, are you saying that you folks united to speak with a single, collective voice as a means of strengthening your position, rather than face going it alone, in order to lessen the chances of your cause, your concern, being defeated and going down in flames?
And, are you further inferring that it worked?
Wow.
Why, in all my days I have never heard of such a novel approach, bargaining collectively?
Now I’ve seen everything.
@bsq. They don't deserve kudos. Vz only did this because we put the pressure on them through any and all means accessible to us. What they tried to do was terrible. To force us to sign that we were voluntarily resigning from Vz to accept a job with infy or lose 2018 STI is unethical. They smelled a class action lawsuit so they offered VSP to cover their a$$es
Congratulations to all for a job well done.
VZ staffers that are slated for rebadge all of the sudden have the best options of all. The contract is two years guaranteed now or they can voluntarily separate. This is a much better choice than those retained who either leave or face total uncertainty. I'm willing to give Infosys a chance knowing that it is a changing IT climate and we must constantly keep ourselves current and selfish in our own futures while working for the projects we are assigned.
I think Verizon gave a press release with this information except those comments from one of those affected people. I didnt see the press covering the horrible exit package they gave
@vis, the actual article by Sarah Krouse contains several paragraphs that were not in your synopsis.
https://www.morningstar.com/news/dow-jones/TDJNDN_2018101111922/verizon-extends-voluntary-severance-offer-to-us-employees-affected-by-infosys-outsourcing-deal-update.html
They did the right thing, and deserve kudos for their reconsideration of the situation.
"option of taking the exit package or moving to Infosys with a guarantee of comparable pay and benefits for two years"
This is the exact offer another Indian company gave to a USA company (my ex-company) a few years back. And want to know how that turned out... Well, after about a year or so, the employees who were transferred were offered another job in a different state. If they chose not to take the position offered in another state, then basically they had to quit and would loose their benefits. Read the statement again. "guarantee of comparable pay and benefits for two years" if you stay with Infosys and don't quit when told to go to another state (to support a customer, let's say because the new companies policy is that you have to work at the customer site). Please read the fine print and make sure you ask both company HRs the policy and get it in writing.
They finish with:
Everyone’s really happy
WSJ ›
Verizon Changes Exit Package for Workers It Planned to Outsource
SARAH KROUSE OCTOBER 11, 2018
A Verizon store in Brea, Calif. The wireless carrier is extending its offer or severance to more employees.
A Verizon store in Brea, Calif. The wireless carrier is extending its offer or severance to more employees.
Verizon Communications Inc. on Thursday changed the exit package offered to about 1,000 of its U.S. workers who were set to move to outsourcing giant Infosys Ltd.
After telling those information-technology workers in late September that they weren’t eligible for severance, the wireless carrier is now giving them the option of taking the exit package or moving to Infosys with a guarantee of comparable pay for two years.
A spokesman for Verizon said the offer reflected the carrier’s final agreement with Infosys. Verizon, the largest U.S. wireless carrier by subscribers, recently signed a $700 million information-technology outsourcing agreement with the Indian company.
About a dozen employees affected by the move to Infosys said they were initially surprised and disappointed that they were being transferred to a new company, rather than being offered the same severance packages many of their colleagues received.
Their frustrations stemmed in part from the timing of the outsourcing agreement and a separate voluntary separation package offered to more than 44,000 management employees.
In late September, Verizon told about 2,500 information technology workers globally that they would be transferred or “rebadged” to Infosys.
Initially, those workers were told they could accept the new job offer with a guarantee of similarly valued benefits for one year or refuse and forfeit access to their 2018 bonus and a special share award granted after this year’s tax overhaul, according to materials distributed to workers and reviewed by The Wall Street Journal.
“We appreciate and respect the concerns you have raised regarding the transition to Infosys,” Verizon executives wrote to affected staff in a memo Thursday reviewed by the Journal.
“Everyone’s really happy. They’re happy that it’s fair,” said Kathlyne Le, 44, who has worked at the carrier for 13 years.
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