Thread regarding Verizon Communications Inc. layoffs

Not enough in this offer ...

Really leaning towards NO. This is just a RIF with a little more money. Those that are jumping are near retirement (58+ and no need to work anymore), are IT who don't want to go to InfoSys and the rest are just reacting in fear that the company is going to be sold, their office moved, or that they will be RIFd. I don't think the company is intentionally trying to scare/threaten employees ... but that is the net effect of this ... as they try to raise the money for 5G.

If they really wanted to move a lot of bodies they should have kept the severance uncapped. That would be a no-brainer for anyone over 25 years. A 60 week cap devalues the target audience (30+) to the same level as those with 20 years. That is a little narrow sighted and is not enough money to bridge anyone who is 50-54 into the age where they can start to tap into their retirement savings.

This is a really tough call for that age group. Under 50 ... I bet the majority are staying put and riding it out, with mortgages, college expenses, etc. For the them ... the offer gives them nothing and the risk of RIFs is something they have come to live with every day.

In the past they could offer a 6/6 around the pension to qualify more people for retirement ... but that no longer applies. It is just cash to walk out the door .. and an additional 25 weeks just doesn't seem like it is enough to entice the numbers they want. Verizon missed a huge opportunity here.

It is a no for me.

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Post ID: @OP+VH5PZYm

12 replies (most recent on top)

"Really leaning towards NO. This is just a RIF with a little more money."

I guess you are waiting for the RIF with just a little LESS money.

If you wait little bit longer you might have it.

It is, actually, very simple. You see your future in VZ, either as retained or re-badged, or you don't.

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Post ID: @1yxn+VH5PZYm

Agree with OP. Hold out for the next offer and if you've already accepted you can retract it until 11/10. The next offer is definitely going to be better.

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Post ID: @1omh+VH5PZYm

@wby, “themselfs”? Really?

To add an “s” to the word themself is to depart from the English language.

Many have learned this all by themselves.

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Post ID: @hdr+VH5PZYm

@ jgr. I don't know who you talked to but under a reduction in force you only need to meet the rule of 73. Reread #41 and 42 in your FAQ.

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Post ID: @cci+VH5PZYm

If they really want to move a lot of bodies, they'll just lay you off. Which is exactly what there going to do when you, and people who have your same thought don't take the package. Then, when you guys try to file a class action lawsuit, you will get nothing because they gave you the option, and you didn't take it. Smart people are leaving. Desperate people are staying, and F***ing themselfs.

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Post ID: @wby+VH5PZYm

To add to the insult I am at 24.92 years of service 50 YO so not quite to the "Retirement" number of 75. Asked HR if they would grandfather me in if I took the package a big fat NO. Not that our retirement benefits are that great, but it is the principal of it. So they could care less about the employee that had busted their a-- for 25 years.

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Post ID: @jgr+VH5PZYm

They need people off the books for end of year and 1st quarter results. It has nothing to do with what works for employees

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Post ID: @jou+VH5PZYm

June will be perfect for the company? Or for the volunteers?

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Post ID: @kvq+VH5PZYm

100% agree with this post. The 60 week cap was a bad decision and hurts those workers who have given so many years to this company. A kind of age discrimination in that there is no added benefit for older workers beyond those with 20 years service.

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Post ID: @hrx+VH5PZYm

I agree. They could have easily hit the numbers with some tweaks, and loosening the purse strings. This was a botched rollout . I will take my chances, if I stay six months to a year I break even and then some.

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Post ID: @nkq+VH5PZYm

It’s been a good ride here but unfortunately this place has become very toxic. I’d be kicking myself if I didn’t take the offer and got laid off a few months from now. Fortunately the job market at this time is pretty good so anyone that wants to leave should be able to find a job.

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Post ID: @gaw+VH5PZYm

You nailed it. Also screwed up by not letting you pick March or June. I hear every day that June would be perfect. I’m sure they have their reasons but once again Verizon manages to screw it up. 😂

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Post ID: @mmk+VH5PZYm

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