Voluntary Sep Program/Package being offered to select management employees in the US. I got the email this am, it's not a rumor. Volunteer separation dates are: 12/28/2018 (most will leave), March 22, 2019 and June 28, 2019 based on needs of the business for your channel or work group. 3wks for each year of service. Good chance to jump for those who have been looking to leave. If you want to stay, don't submit your name. Do you want the red pill or the blue pill?
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How is Verizon still a viable business when they outsource all their products and services? No wonder it has a history of poor customer service - the staff doing the work has no stake in the company. Infosys is just another brick in that wall.
The ship is not sinking it is heading in an new direction. The wireless phone business is profitable, saturated and not growing. The future growth will be in 5G and IOT. Time to move on!
Deff all in BGCO HQ we got it sad I’ve went thru this before and decided to relocate 4 years later again now I’m stuck miles away from home with kids I’m so disappointed in my company.
Having an illness without a cure I have to stay for the insurance as long as I can.
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Unemployment compensation depends on your State. Every State has different rules, so blanket statements such as you "will get unemployment" or "you would be ineligible for unemployment" are meaningless as they are both correct overall....but only one of them is correct depending on the State you live in for your specific situation.
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Retail was not eligible as (and this is just my speculation) the company will outsource the stores and sell them to one or many authorized dealers. My guess is sometime after the holidays so that they don't have a bunch of upset employees during the holiday sales season. Our own website Heard of "Visible"? Look it up....VZ claimed it was not ours and was a startup, but then the other day announced it was VZ's. That's the future....all customers will deal with VZ through either an online website (our current VZW website for new equipment sales or Visible for "bring your own device" ) or through authorized dealers. So...why pay severance to retail employees when you will need to
Hans was on CNBC this morning explaining it more before talking about OATH, etc. Google CNBC Hans Vestberg for the video. It sounded like the real layoffs are coming in November like usual.
No they don't owe us anything. But then I don't owe them working long hours or weekends or doing the work of two people. And don't tell me I need to go above and beyond and be loyal or rah rah the company. It's only a paycheck now.
This is Not a "layoff" - it is a choice
Meeting with Brian Stokes on Monday in Charleston to talk about what voluntary separation really means.
This isn't a fun or easy thing. Many of us own homes, have children, kids in college, etc. Its disappointing.but we have to stop thinking this company owes us... they don't owe us anything. We can be upset but its best to be prepared... the way things have been going - we had to see this one coming. People with 15+ years of service - Good luck... it s---s for people who are really close to retirement but not close enough....
All I can say is hang tight... this is what they do... I am taking it and running.
Meant to say, it's NOT a resume builder. Figured it out, and the RIF package, plus two cycles of Unemployment (1 year) will be pretty close to this "enhanced" separation package anyways, IF you did get RIF'd
It's not a layoff. They're not firing you. If you got the package, then read the Sample Contract and the Questions & Answer sections. If you sign it, then you are agreeing that you can never come back to Verizon. You're quitting with a buyout, so you're not getting unemployment and it's the greatest resume builder. Take the time to read all of it on company time. This subject should be over on the Wire side because they're used to it. We're so used to smooth sailing, build, build, build, make happy customers, and supply the primary profit for Verizon with less than half the employees until Vodafone got bought out. I know plenty of retired Verizon Techs and they dealt with the buyout offers throughout their careers, refused them, kept busy, and went unscathed. Also, last two years of RIF's, I've seen Tech's get buyout offers before the RIF, refused, and not get touched by the following RIF. Quit getting so worked up about this. Just ride out the Hans incompetence (he's got no tech background), like Ericson did, and we'll get back to build, build, build, and make happy customers.
Never. Right... Their bonuses will double with all this free cash flow they are getting based on Outsourcing and RIFs
When are higher ups going to be held to account for the sinking ship? Never. Sad.
It’s still a lay-off. Unemployment will be available.
When are higher ups going to be held to account for the sinking ship? Never. Sad.
It applies CFS too, we got this information on Monday and we are suppose to have another meeting on Oct 1 for more details. The ship is sinking fast!
I work in WEHD for VZW, and we got the offer. There are only 60 reps in our dept, and at least half are signing up due to lost trust in VZW.
I'm going to try and stick it out. 60 year old so who's going to hire me at this point. But this s---s. No loyalty but not surprised.
Voluntary separation will not be extended to wireless sales employees. This is a mistake in my opinion. Why would you want to retain employees that do not want to be here. Save the company money in the long run and incentivize employees that do not want to be here to leave. Hiring new talent is costly, however it is costlier to retain lackluster talent on the books.
Anyone new to this (Enhanced) Severance Package thing (me, after 20+ years busting my tail more than my spvsr), make sure you read the whole 12 page example contract, plus all of the questions/answers links. For example, if you sign this come Oct 1st, then its considered a voluntary dismissal, so no unemployment. Another: its a lump sum within 4 weeks of last assigned workday (most likely Dec 28th), so no chance of collecting unemployment anyways. You can only read it from a company machine, login required for each, so nobody got anything done today. The tough part is, do you volunteer for it and possibly miss the cut, but at least be eligible for it if there's a regular RIF in November, or have faith that Hans will need you enough for 5G that you survive past the 2019 deadline to save their millions and participate in the buildup w/o any more worries? idk......
Any new on RIFs for Wirless Net Ops/RF?
Heard from our VP yesterday that they plan on reducing headcount by 20% by the end of 2019. They’re hoping they will get it through the voluntary separation. They will RIF if need be. I’m in wireless.
So do you stay and take on the work from your co workers or do you chance the job market?
I think Hans is making a strategic mistake. We’re leaving tens of millions of dollars on the sidelines due to previous RIFs in IT this year alone. There is no way this doesn’t impact productivity for at least a year.
Vacation earned has to be paid. It’s the law. That’s why the micro site says the actual offer to each employee will be adjusted.
Anyone know if they buy out remaining vacation or is that just gone?
I am in operations and am eligible for the package. I spoke with some coworkers in customer service and they are not. I plan to volunteer because the way the last couple of years have been, it’s just a matter of time for my position anyway.
Net ops here. All in my group got the offer.
What about Piscataway? Have most people been given a package?
It was also sent to all learning and development (trainers). It appears anyone in sales was “not eligible”
Not wireless id--t read facts instead of skimming like you do your trainings
Amazing how the company got billions in tax cuts from the trump tax bill but still not enough.
This offer is $80k better than the normal rif package for me. Further rif packages will not be "enhanced" like this one.
Will be considering it, as I have skills in demand.
Unemployment: Generally, if you are laid off for business reasons, you will collect. ... If you sign a release of claims in return for severance pay, you may collect unemployment benefits for the same period of time as your severance payments.
Why volunteer? If you got the offer it is likely your are going to get riffed anyway giving you basically the same severance.
If you volunteer to separate you'll be ineligible for unemployment benefits...which is about $700/wk for 6 months where I live. The offer is probably VZs way reducing unemployment tax increases and number of WARNs they need to publicly file.
My group was not included in the offer. We had a call with our entire team with our executive leader making sure we knew we weren't and why.
The VERY interesting note that I haven't seen ANYWHERE else is the stipulation that, if you DO apply for the package and are accepted, once you leave Verizon you can NEVER be re-hired.
This is NOT a trolling comment...it surprised the heck out of everyone that they'd include that.
Managers in SoCal got it, Most of these guys are overpaid and would never be able to find another job that pays them the same. If only you could add coachings to your resumes. See ya clowns
I saw that retail packages will be available Oct 1, any truth?
See , years ago the wireless should join the CWA ! Not you stand wher you stand with verizon
The voluntary is NOT only for management positions. It was sent out to the entire engineering organization.
The voluntary Buyout is not for customer interfacing positions & right now it's only for Management employees only...
I'm in Indirect & I don't qualify.
So, basically, they'd be able to cherry-pick who they want gone (those making the most/doing the least) from those who volunteered. Everyone I know that has 15+ years on the wireless side wants O U T.
From a PR standpoint, it would appear to be a more "fair" way to go about this.
That said, they're always going to use these layoffs to "weed out" the slackers/undesireables/troublemakers that they otherwise haven't been able to get rid of...and they'll have zero recourse because it was a layoff.
Those will be lumped in with the "volunteers."