Thread regarding Verizon Communications Inc. layoffs

Yep I’ve put in 39 years and with a cap at 60 - just not enough for me to leave. Remove the cap and I’ll leave whenever you want me to!

You will get a choice... 1 month pay and unemployment or rebadge. If you take rebadge.. your pay, benefits and future severance option will be based on your new employer. Simple and cost effective for the company.

Verizon could avoid public backlash for Riffing older workers by promising to hire nobody other than young refugees from third world countries.

If it comes down to a choice between a package of 60 weeks or rebadge - does anyone know if you can get your cash pension and VZ retirement medical at time of rebadge? If you can then the medical and cash pension would be available at the same time under both choices so the real difference between the 2 choices would come down to 1) get a buyout for a bit more than 1 year (while not having to work) and look for a new job which will be at less pay or 2) work for the next 1 year at your current higher pay at the outsource firm then after 1 year except less pay with them to possibly continue there.

wow what have you guys been smoking? 3 weeks per year? cap at 60 months, cap at 75 months. no cap!..... not happening..., vz has already set the bar for what they pay in a layoff, no need to change it. The rebadging has started it will continue, you can take the package option or rebadge option, there is no need to sweeten the pot, they will have plenty of takers.... and if for some reason they do not get enough ppl, then they wait a year and do not renew a contract with the rebadged ppl, simple as that.

A bunch of former employees spreading rumors

Arby’s just bought Verizon

The cost savings Hans promised will come from Outsourcing and then a RIF to make up the difference. Don’t see much chance of a buyout.

There have been multiple responses regarding high buyout packages due to “ lawsuits”. The remaining VZW centers which are not pending closing, are all in “right to work” states. In most states it is employment at will. An employee who feels they can sue VZ or any company for that matter, due to layoff is sadly mistaken. If one feels discrimination then the EEOC allows 180 days from incident but burden on employee to prove. If you are in fear of layoff, just take the package.

My high level contacts have told me that an offer is forthcoming. What it is; nobody knows (or at least he wouldn’t say). The offer is because Hans promised $10billion in cost reduction to Wall Street and he is gonna make it at all costs. So the offer will be based on how many need to go to put a dent into the $10 billion. My hope is 3 weeks no cap, my guess is 60 week max

I have been hearing that the re-badge is likely.

Up to 80% of IT.

Severance capped at 30 days (after 1 year).

Big questions on Vaca, medical, bonus, etc.

As I see it, the company is trying to reduce staff. Doing so with a buyout does indeed wean itself of older workers, typically paid at a higher salary. A RIF would predominantly impact many of them, and just like IBM, open the company to more lawsuits and bad press. So, a buyout makes sense, and I don’t see a cap at 60 months, more like 75.

Don't forget you could be re-badged and wind up being a contractor working for another company with different severance policies.