So our VP just posted a podcast on vztube. In it she says that not everyone that opts in will get the package and that most that do get it won't be released until March rather than Dec. She also says that the reorg won't have much of an impact on BGCO. Thoughts?
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@2ryn flip this and look at it from a Vz cash flow perspective. OPs suggestion was VSP opt in wouldn't be released / paid out until March. Looking at it from a cash flow perspective it means paying STI for those who remain for the year ending 2018 at the same time as paying out VSP folks. Lumped together it's a lot of cash out the door at the same time. So.... it's unlikely VSP folks will be held until March.
@1zfe if you are held til March, you will get your 2018 STI at the same time you normally would ( In Feb). You will get your prorated 2019 award when you leave. Same principle applies to those leaving in June. Don't understand your comment about where money is coming from to hold VSPers. Outside of severance it's no more STI money than what they'd pay to an active employee. And the severance doesn't change no matter which month you leave (unless your service is under 20 years, then the extra months might make a difference).
My supervisor told me they want people off payroll asap. I suspect most that take it will be released in DEC.
Isnt STI normally paid in March for the previous year? Where is all the money coming from to aford holding VSPers until then. That's a lotta cash. Just saying.
staying til March only gives you a prorated STI of 3 extra months. Chump change.
March?! Where will they scround the cash to pay STI?
They will gladly backfill justified headcount with new hires at 1/3 the cost. Experience is totally devalued with this initiative. It doesn’t mean the newbie will be nearly as good but on the balance sheet for Wall St it looks better and that’s all that counts quarter to quarter.
BGCO will have impacts. They are growing Vendor Sites which are outperforming internal sites. Also there will be duplication between wireless and wireline roles. Every channel will have impacts. Can’t get to 2.0 without them.
Most will be let go in Dec. Not all, but most. Believe it.
From our meeting.. the VP basically said if too many take the package they will just have to backfill the position/s. Sounds like everyone who wants it in our group will get it!.
My MGMT has announced that if they want an employee to stay till March or June, they have to justify to their VP why it is a benefit to the company to pay that employee(s) for a 1/4 to 1/2 a years salary, plus the prorated 2019 STI, plus the personal days and vaca, etc... I don't think there will be many, if Any held in my MGMT chain beyond Dec 28... It's probably a bit different for every group, the point is don't take any of this as gospel.
Can anyone confirm this?
She won't be deciding on whether I go or not, since I'm in engineering.
I think the situation will be different in each organization.