Thread regarding Verizon Communications Inc. layoffs

What people don’t realize

The 60 weeks is a nice buyout. What people who have not been with the company don’t ralize is that for many of us, we chose to work at vz because they were a fortune 20 company withgreat benefits and a pention. Then when we wher late/mid carreer working for the company, because they had spent down the pension fund on severance payments they froze the pension. As a reult, many of us had no choice but to stay for the portion of the pension that was left if you made it to your 75 points, or leave and not get any pension. So, almost all who could avoid a rif and who were in their mid 40s tried to hang on. Yet, that meant you had less available to you to retire. As, you get into your later 50s, the pension amount that was left starts to fall as well. anyway, many need to work to fill the pension gap (that is substantial. And, the 60 weeks only gets us a little farther to the goal, and then potentially without a well paying job (as age descrimiation is alive and well). I think many of us will take our chances and take the offer, and fair fine. However, the pension freeze was a low point, especially how it mpacted managers in their mid-40’s with many years of service.

I’m not the OP, ( @VmNlo59-zfn is), just think a lot of people stayed trapped exactly like this. Thoughts?

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Post ID: @OP+VnAUsQG

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I’ve been with VZW for 25 1/2 years but I’m only 59 years old. Going to try to hang on for 3 more years. Good luck to everyone. It’s scary out there.

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Post ID: @3yxf+VnAUsQG

Very trapped even though I didn’t have enough years to have any real pension or get retiree benefits when they froze em.

I see two groups who could take it. The package is for people who were hanging around for a rod for extra money to retire which never made sense to me I’d run if I could afford to retire no wait years for a rif.

Those with say 6-10 years where the package gets the a nice bonus and they’ll move onto something real quick.

If they had announce a pay cut or forced non compensated relocations it would push me more to go but right now I’m kinda trapped and every day I stay I make a lot more than I would anywhere else but it also makes it harder to be able to get a job anywhere else.

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Post ID: @tgf+VnAUsQG

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