Is anyone in there ealy 50's with a lot of years thinking about staying??
49 replies (most recent on top)
In the VP org I am in, I am observing significant numbers in some groups selecting the buyout. The functional area would be very crppled if they were all excepted. This could get very messy.
And by the way, the reason for so many opting in is a general sense of malaise and mistreatment by their leadership.
In the VP org I am in, I am observing significant numbers in some groups selecting the buyout. The functional area would be very crppled if they were all excepted. This could get very messy.
58, 28 years. 60/40 taking it. Planned on working at vz for 2-4 more years and then semi retiring. Also, I feel fairly secure that could avoid a rif for at least 2. However, org (as seems like a very significant reorg is likely going to occur over next 6 months, with a lot of truf battles over project reponsibily and budget issues) and business uncertainty, as well as severance uncertainty is causing me to lean toward leaving VZ. If i thought I woukd be working on my same areas of responsibility and scope for the forseable future I would be more likely to stay. Hoever, that seems increasingly at risk.
Word from a recent rif employee due to location - Anyone returning to the workforce after a VZ career - you should expect that the pay for ones skills will be much lower and you will be managed by 20somethings
51/17
Staying, think I can outlast VestBURGLAR. He did this same sh*t to Ericsson and they are still standing (after their board determined his "hack and slash" methodology was stupid and sent him packing)...
54/32. 0n fence.
@2gzl: "It really is a sweetheart deal and am trying to convince everyone that'll listen to at least consider taking it."
Why bother to try to convince others? Everyone's situation is at least a little different, and, given that they MIIGHT not accept everyone who asks, you might slightly improve your chances if they choose not to.
Unless your convincing others is a way of convincing yourself!
well i think the earning report later this month might tell a story. All the calls to date paint a rosy picture. I for one think its going to be very good numbers. this of course is what Wall Street wants and doesn't really care about what Verizon is doing in the background. CNBC is on all day and not once did they mention the buyout/infosys, of course they whispered it but nothing like they did for others with similar situations. So if the numbers come out real good, sinking ship is probably not in the cards.
I for one am 51 with 23 yrs and will take the chance and stick around, its not that it wont be easy to find a job or transition into something else its that i actually like what i do for some weird reason. If they Rif me later that is fine, will take the severance and move on (if it doesn't change).
BTW, i do keep hearing that it will be rare for them not to approve the separation, so if you take it you will be out.
53 with 28 and taking it. They'll keep doing this.
I am 42 with exactly 20 years.. mostly taking it.
@2hoa. I thought i saw 12/10. Should be in your information package.
When is the actual date that they are telling management if they were excepted to leave?
59 with 21 years. Taking it.
Anyone who stays is crazy. IT is gone. What do you think your job will look like when that happens? There will be nothing to support, manage or deliver. Infosys will be in charge and will certainly work around any obstacle you may create to them.
41 with 18 years of service. I absolutely am taking it. This is a terrifying sinking ship that is going to get MUCH worse before it gets better.
It really is a sweetheart deal and am trying to convince everyone that'll listen to at least consider taking it.
64 1/2 with 30+ years. Bye!
At 55 with 20 years of service, after hearing rumors this was coming, I had a list of items that had to be true for me to take it. All materialized so to me, that was the sign I needed. I have seen many opportunities to contract so once I know my date I will plan accordingly. I have been talking to many of my friends all in different situations. In my opinion, and this is only an opinion not intended to be preachy or judgmental, if you are at a stage in your life where your kids are either out or close to be out and you have saved well and your spending is under control, you should think about taking it. I stayed during the 2003 offer and after there was alot of mayhem. My team went from 11 to 2, I was one of two left. Did I survive? Of course I did but it was super stressful and not something I wish to repeat. Those who stay will be fine, it will just be a little tumultuous for a bit. Good luck to everyone!
Don’t take it unless you are really retiring, where else will you find a company willing to pay you $125k, not have you answer to some smarmy 22 year old, and have benefits as good as VZ’s? Take the emotion out of it.
Early 50s. 10 years. At the moment 80% chance I'm clicking "YES" on VSP. In my opinion there's now a cargo cult strategy with the belief that power points with all the tech acronyms du jour is all that's needed to get results. Hey all you need to do is read this power point and "onboard" your 200Kloc system that has little to no documentation and a skeleton crew and in a few months it can be deployed to the cloud, have CI/CD, and with a few sprinkles of some magic AI/ML dust it will maintain and operate itself! And if things don't turn out that way? Did you see that Infosys powerpoint that says "Yes!, Yes sir we can most definitely do it fast and cheap, very fast! very cheap!"
If calls start dropping like flies, just get some coffee, call 1-800-INF-OSYS and be prepared to wait, a really long time ..
Reality Check for the Painfully Delusional.
It’s been said that those who can do, do. Those who can’t do, teach.
There’s soon to be several thousand individuals in a tight geographical location, many past their mid-life mark, about to be untethered and freed-up to re-enter the job market. If you’re one of the wise who planned ahead and is financially set, great! Congratulations.
If not, okay, what are you dealing with, what’s the reality?
Though telecommunications, in general, is a shrinking arena for employment leads, if you’ve kept your skill set sharp, if you’ve taken advantage of the educational opportunities that have generously been at your disposal for the past 2, 3, 4 decades, you’ll probably be okay, as you’ve got a big headstart on those thousands of other competitors who are seeking the very same limited pool of jobs within the rapidly shrinking telecom industry that you’re simultaneously also looking for.
Imagine for a moment you’ve been at McDonald’s for 25 years, that they’re folding, and you’re now about to be out of work and competing for some fry cook gig at Burger King or Wendy’s or KFC? However, if you’re a graduate of McDonald’s U, you’ve earned credibility.
If not, maybe you’ll woo headhunters by instead offering up your services for less money. You may have saved enough which puts you in the enviable position in which you no longer require the salary that you had once been accustomed to in order to make ends meet. The mortgage is paid, the kids colleges are over, time to dial it back. That’s an enviable angle. Yeah, maybe the next adventure may limit you to two weeks vacation a year, hopefully paid, but you are financially liberated, able to move on if you don’t like the situation. That’s cool too.
The world still needs people to tell other people to keep working harder and faster
Best of luck.
39 with 15+ years. I am definitely volunteering. A colleague of mine who is in his fifties with many more years of service than myself is staying put. His reasoning-kids in college, not ready to retire, does not want to work someplace else for much less pay.
Another here with skills that transfer. I've seen many more skilled than I head for the door without
a packagee because they sensed what we're all long past denying. At least I get a separation to comfort me with this realization, now or later.
@1usb, chuckle, you so funny. VIPs, snort, cachinnation...
68 with 48 years, aaagh, what was the question?
Just a reminder. You are not taking anything until they approve your application.
So don't assume anything.
I expect a lot of angry people mid November when they are denied because they are VERY IMPORTANT.
So who benefits the most?
All those people who somehow stayed with VZ all these years and didn't interfere with their position which means they didn't do any work because they simply didn't know anything to do.
Mid 40s 20+ Pushed out by Hunger Games VZ Edition. May the odds be ever in your favor.
42 with 18 years. On the fence about taking it.
Early 40s with close to 20 years in. My skills are transferrable and in demand. I don't really want to start over somewhere else, but this place is going to sink like a rock so I really don't have an option. I actually like working here but our time here is over.
57 with 32 years, definitely taking the package. This company no longer has a soul. The way the outsourcing and buyout were handled is not the actions of a company I want to be associated with. I saw this coming and have saved aggressively. I don’t have to keep working, but probably will, though not in IT where I’ve spent my career.
44 with 22 years, taking the package. VZ did IT so greasy with Infosys, they’ll do anything now.
I am 61 with over 30 years not ready to retire. Like what I am doing, but given the direction company is heading most likely will take offer.
41 w21 years. I will be taking it. See more riffs to follow and after all of the talent leaves, that will be an extremely overwhelming workload left over. Good luck to all.
62, with 18 years in. Leaning towards taking it.
so u are taking them ???
Almost 50 with 20+
I need 5 years to stay on plan and the 60 weeks ain’t gonna make it.
No more overnights and weekends though I gotta work on next job prep.
I am 50 with 22yrs. Kids in college, dont live beyond my means, but still a bit early but won't be taking it. Will take my chances. Really dont want to start from scratch. Low man on the roster and so on.
The real question is how many in there 60's or close that are not taking it.
A few I spoke to said they will take the chance and if riffed take the current severance then coast into retirement, one I know is well off and that was a bit of a head scratcher.
55 years old, 21 years. Vz paid for my MS in IT...I am out! (hopefully) Can't retire yet but I am skilled to find a new job.
48 with 20+. I'm out. My Dept has been RIF'd away over the last 3 years, what's remaining will be sold off soon. Might as well get a jump on my future competition that's left.
56 with 17 years...not sure, 50/50 right now.
Late 40's. 14 years with VZ. Non IT. Got transferable mad skillz. Most likely will GTFO of VZ.