15%, 20, etc
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*xwh...as much as I wish it wasn't the case, I feel you may be spot on with your assessment.
The VSP wasn't offered to make the overall number. Cost savings by shoveling money at it? No no no, the VSP wasn't for RIFing the general VZ population, it was offered as a means to get rid of the people who usually survive the RIFs but who they actually want off the payroll, the older emoloyees. If it were just for nailing some quantity of regular folks then that would be the normal package.
See, it doesn't matter if they got their overall number from the VSP, that's not its purpose. In fact, if they did meet their overall number with the VSP then they means they've truly failed and overspent wildly. What really matters to Them is that the VSP took enough older folks. So long as they've met that goal then the real cuts may commence. VSP was just an opening salvo aimed at the high-value targets, people they can't otherwise gun for. Next will be a general m---acre, pobably Sprint-style with a reduction in the standard package and then major headcount cuts.
Don't forget that the end goal here is enough fiber assets to run a few wireless companies, towers and microcells installed and maintained by contractors, end consumer equipment logistics, some internal systems they can't outsource, contacted end user "support", and little else. Will they actually get there? Very unlikely, but if you're not somebody with a VZ badge in the end game scenario above then expect a really bumpy ride.
Oh, and to everybody who volunteered and then rescinded, your manager knows who you are and thusly knows who's loyal for the long haul, and who isn't. Congratulations, you've just been thrown into RIF Thunderdome with a blown-out knee.
Good luck, y'all gonna need it.
There will be sweating on the pot.
A RIF in 2019 will be max at 60 weeks for those who are retained.
(pushed the button, but are not accepted).
Those RIF'd latter in the year 35 weeks.
Those RIF'd in 2020 35 weeks if lucky.
Those RIF'd after 1 year at Infosys a door in the backside.
Does anyone really think - because they didn't get their "number" (perhaps) - that they would be sweetening the deal? Why would they do that? A more likely scenario is that on our next payday, Nov 30th, involuntary cuts occur, with a 35 week max package (off payroll by dec 28 - that's 30 days notice). that's gets them to their number. done. i think for people with more than 20 years, it is a real gamble not to have volunteered. 25 weeks pays is a lot to give up.
Just thinking about the strategy if they did not get their numbers. I heard it was up to over 20k who volenteered. If half of them pulled out they would still be at 10k. It is still a huge departure and will have major impact. I volenteered but With 35 years I was not pleased there was a cap of 60 weeks, however the rising interest rates is reducing my lump sum value substantially each increae. And bringing in a hatchet man I was fairly confident Hans is not going to capitulate and may likely just Rif people if they don’t get his numbers. He Could even reduce the severance from 35 weeks. This talk of people backing out , I know it is all speculation at this point, but hearing that a high percentage of seasoned people that have backed out makes me wonder if they will sweeten the pot. You have to figure those that wanted to go with ~20 years would take it because it won’t get any better for them if they in capped it. I suspect Hans is here 3-5 years. He may just Rif people in November. then run the same or better vsp offering next year after a November Rif which will scare many who were teetering.
Yep just in my peer group of 6 , 3 of the 5 who said they were leaving rescinded. Only 2 chose to volunteer
Hearing a lot of people backed out !
30%
50%+
My guess, 22%