In case more people than they expect accept the offer - and this has happened before from what I understand - what will be the deciding factor in who will actually be approved and who will be denied?
I'd hate to make the decision to leave and get myself in that mindset and then be denied.
"Too many"
This offer is the second cut in less than 9 months. Earlier this year there was the 60M real-estate consolidation with thousands cut in its wake. Now 44k can 'volunteer', the entire IT team crossed the auction block to be sold into Indian servitude and some think there is such a thing as "too many".
Only around 6k will take the package
I wonder who is going to do the work when 44k people walk out the door? They must be performing some sort of job function now...is that just going away?
Anyone who signs up to leave will be accepted. The company will move 'off the book' dates out to next year and at the same time begin to move departments and functions to outsourcing groups as well as combining functions and tasks.
The company wants people off the books but also, the company has to be cautious as if they refuse someones request to leave and then next May or June RIFs them, they face lawsuits.
Hans, I would imagine, wants to avoid lawsuits. He is here to get a job done with as little turmoil as possible. He was selected because he has no emotional ties or allegiance to the old RBOC companies or any existing management group.
I hear the prioritize who they ACCEPT based on how many years you have with Verizon. Thus if you have like 30 years service odds are almost 100% you will get the package.
@tsj they got it too, so assuming they are in the same position as most of us. The management with reports have no clue what's going on, it appears maybe something is being discussed at the VP level, but seems they are getting interviewed. So I would continue business as usual until I hear otherwise. At least for the time being we have a job until at least the holidays.
The opposite is the problem. Not enough appear to be taking it based on the latest numbers I've seen. Few more weeks left, tho.
Management has been hostile to our teams. Cancelling team calls, etc. Finds excuses to ignore you. Is AWOL. It’s a no brainer they want you gone. Take the money and run. If you stay you won’t survive long as you are already on the 44K list. $10B is a big number. Yes they s---.
If everyone accepts, Verizon will be thrilled.
They offered 44,000 people to go away for a reason. Verizon would be more then happy to have all 44,000 accept the offer. Believe that.
If too many leave, they will just step up their effort to only hire low wage diversity candidates.
It isn’t just one thing to get to 10. Sure just cutting employees is simple and the go to move but they will make other cuts.
Some recent discussion have been:
Do they drop retail or at least continue to transform it?
Do they keep going with HBA and then change it up so people will be on demand and have no set hours but set availability in case needed?
Continue to close remaining buildings and squeeze everyone into elementary school desks? Perhaps they can stack desks like they do bunk beds for more space savings ;-)
To cut $2.5B per year (10B over 4 years) if each employee cut cost $140k per year in TOTAL cost Then $2.5B/$140K = ~18k employees Target???? 40% of the 44K. Just Guessing
@VHgbUn6-xck - "Verizon Communications Inc. is planning to cut $10 billion in spending from its operations over the next four years, the company’s CEO told investors on Thursday."
Where do you think it will come from??
Where has it been suggested that VZ intends to get below 100k employees?
Besides here, of course.
Read the offer page. It's in the first paragraph. For such an important decision, I suggest you read everything, including the FAQ.
It will probably be people with the most time that go 1st
Since VZ intends to get below 100K employees, they are probably hoping nearly all of the 44K accept the offer.
Curious. For Mgmt, who gets priority on being accepted if too many accept has been discussed on calls, in the material online and is clear. I see so many questions overall on this board regarding the mgmt. offer and/or Infosys deal that if you got either offer, you would know the ans. I do not know anything on the Union offer so maybe that is the offer you are asking about?