Anyone who’s been at Verizon over 15 years recommended to take the package, the purpose of this program to remove high salaries of the books and get in fresh blood with new ideas.
To answer few of the questions here; not everyone will be approved which all depends on current VSP rate vs. target. There will lots of change, opportunities, and restructure within the teams. Definitely, their will be future RIFs every month with in department to meet a specific headcount target.
Anyone making over $130K at Verizon is probably paid too much for what they contribute...especially lower level managers.
There have been tons of "Fresh Ideas" presented to Executives by long tenured employees. Every Executive is too scared to take a risk. As an example, anytime a recommendation for a new Network vendor happens, some executive presses the "I don't like them for x reason" button, preserving the status quo.
I will say my experiences are confined to Network though. Also, this is contrary to what the prevailing wisdom is for folks looking to increase their salary. We're told we should hop jobs frequently to increase our salary much more than if you stay with the same company. The company will quickly find they can't attract talent at lower price points.
"oh snap" ? hahahahahahahahahha when did kids post on this site?
Oh snap, the grammar police have arrived to make the there internets safe again. Their, they're, there, it'll be alright.
"Fresh Blood with new Ideas", It would take the "Fresh Blood" to long to learn about Vz's business structure. Its always good to bring in "Fresh Blood" , it should be done slowly with talent. Not in mass hiring's with people that will not fulfil the needs of the business. Vz is still operating like a public utility.
OP, you write very poorly (i.e., “...their [sic] will lots of change...with in [sic] department to meet...” - really?
If you’re challenged so badly in attempting to communicate four sentences legibly, why should I believe you’re an authority on anything, or even worth listening to?
Do you consider yourself the “...fresh blood with new ideas...” who’s needed once we’re “of [sic] the books...”?
If so, God help us.
I'd agree with the prior comment, healthy companies have layoffs; they do not have arbitrary layoffs with weak rationale.
Begs the question just what exactly are they "executing" that impresses you so much? Re-orgs? RIFS? VSP? When's the last time you read about any of that at healthy companies like Google, Apple, Facebook, Amazon,... These companies problem is finding and retaining talent not getting rid of it. Why is that? Because they are in different businesses that are growing while VZ is in the cellular business which isn't. VZ tried to get into "content" - but that didn't work out. Now the bet is on 5G (or is it 5 Yeee, yeah cheap shot..). Personally, I clicked YES and am moving on with my career. As a software engineer my skills and experience aren't tied to telecom so I'm taking the parting gifts and moving on...Good luck.
I'm not sure that is necessarily the case this time. I know. I know. "But its different this time..." But it actually is. None of the top dogs came from AT&T, Bell, GTE or MCI. They owe no one and I believe are making that statement: "either you are with us on this new journey, or you are not" Do you want to be here, really be here and maybe take some risks and maybe make some history? Or do you want to get off at the next exit with a gracious thank-you and fat good-bye check? Say what you want, but so far these guys have been executing. Just sayin'