I just finished a call a director call who confirmed the buyout plan (it was an unrelated call) - details were provided by nothing is official until Monday when the official communication is to be distributed...
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The reason for the offer is Verizon supposedly sold the copper side of the company. Bye bye Vz!
And the other 40% US wireline IT? What for them? Buyout? Rif?
Confirmed. 60% of wireline IT onshore and over 80% of IT VDSI will be rebadged to Infosys. All offered no buyout packages. If offer not accepted, are simply terminated. They all will lose tenure either way.
If outsourced are u able to take your pension
Rebadging will be offered to a subset of onshore IT wireline employees for now. They will be pushed out to Infosys keeping their salary and benefits for short term and of course no tenure. It is a win/win for VZ. No buyout for all rebadged.
"The wireline IT teams won’t receive any buyout offer. "
That makes no sense. Even if any Outsourcing was to happen it would be cheaper to get people with pensions off the books and would make Outsourcing easier. Someone who is at risk of losing their pension and meets the rule of 75 would just retire rather than going to the other company.
"If offer is not accepted, the employee is simply terminated."
What kind of nonsense is this? That would be typical of a RIF. If this is truly a voluntary buyout then it's a mutual agreement.
It’s going to be confirmed two werasks from now. Heard it from a 3rd level.
It’s is for management from director level down. Levels 5 6 7v 7t
are u saying wireline is being outsourced??
The wireline IT teams won’t receive any buyout offer. The Tuesday notification is simply to notify those rebadged. If offer is not accepted, the employee is simply terminated. If offer is accepted, the employee will receive same/similar benefits for the first 6 months to one year. The tenure is not transferred.
but is this just for certain levels of management
it's going to be the same. There is not going to be a different package for different orgs.
Details were provided? Can you share what you were told? Is it the same as the original post here?
Is this for certain orgs and levels of management
Is this the management buyout or is this for associates?
This is similar to what @VfAoosC-gla posted