Everyone is going to be approved just different off payroll dates... rifs won’t happen until 3Q 2019 but the question is what will the “Normal” severance package is a that time. If you clicked then good.. if you didn’t you have a good 7 months before the 2nd round starts.
Good luck to all
There will always be rifs there may just be a pause on big ones. There may even be some targeted ones before 3rd quarter it all depends on how they reshuffle everything.
For me I expect if outsource my job next year then I theyll rif me and a couple co workers who are left but those are targeted rifs.
Now a big 10% across the board rif which would take 500 or more people off the books at once we probably are safe from.
I already know some that are being denied due to their role, but very few. And based on the numbers, if they deny very few folks, then there won't be many people left to have a RIF in 2019. And I've heard from reliable resources, there won't be a RIF for at least a year or two after this. But, if they deny a larger % then they run the risk of a lawsuit if they then turn around and try to RIF those folks.
This is not the first time they've done this. They did it 15 years ago and a good % left. Then there were no major RIFs for a few years. Then as we hired more people and bought small companies, the numbers grew; on top of us "old timers" who stuck around. Therefore cuts had to start being made again.
It's business. Not always good business.. not always bad business.. but business none-the-less.
I feel like this is too optimistic to expect. After all, they made it clear that they could reject volunteers for the VSP based off the ever-present "needs of the business" excuse. It's possible they will screw some of us over just because Verizon likes to do things like that.
Sphincterman always to the rescue
"since i got rejcted this is bad news unless i never get riff"
It is highly unlikely that Verizon would reject anyone who can't compose a single sentence without grammar, spelling and punctuation errors.
Be interesting to see who loses their job over it
Verizon couldn't have handled the VSP any poorer. Lack of transparency, more rumors about the future and moral will continue to be bad for years as the guessing game continues. Pathetic company.
since i got rejcted this is bad news unless i never get riff
New severage policy will be much smaller after June as some points out on this thread. Some leadership already unofficially confirms the proposal. The working level HR would have little or no clues about this change due to political risks it can have.
What HR and the folks that were holding those daily lunchtime calls said about the severance outside of this buyout was that "there are no plans to change the current severance package AT THIS TIME." So, that really doesn't mean anything because tomorrow is not "at this time". They can make the severance package anything they want or nothing at all. Company's choice.
I heard HR specifically state more than once the standard package is the original 2 week for every year up to 35 weeks. When the time comes, take this and do what you want with it. Or do nothing, I don't give a sh-- anymore.
Exactly why many of us pressed the button. And then to here we are denied is bitter pill.
if Verizon sells off a part of the business where you work, you will be at the mercy of the new company with respect to severance (good luck with that). And if buyers are out there, selling off segments of the business (that are losing money), seems like a better than 50/50 chance. Why would Verizon want to keep pouring money into declining segments - when the focus is 5G/wireless (and cutting $10 billion)?
tap, wrong. What was stated was, if you took the VSP and were turned down and then riff'ed prior to the June, 2019 release date the VSP severance would be paid. If you did not accept the VSP, then you would get the standard severance package whatever that might be at the time. It is totally under the control of the company as to whether they want to provide a severance package or not and if they do what it will contain. It is always changeable by the company at any time.
@WhYbx2G-omm What don't you understand? The company went on record as claiming the original package will be provided on any future rifs if you don't take or are turned down the VSP .
is wireless impacted? I don't see any wireless impact .looks like wireless is safe.. especially VDSI wireless is safe for next 2 years that's what management was telling .. is it true? why don't they clean up Chennai managers who just act very hard with useless ppts and outputs.. they never work smart...lungi ….sambar ….batch.. importantly why do we need for a single project onshore manager, onshore AD,director ,executive director ..on top of that ..again offshore manager , senior manager ,delivery head,senior delivery head....totally big mess.. waste of time … this are redundant roles... cleanup is required here...
People are kidding themselves if they think this VSP is the only reduction associated with this massive consolidation and wireless takeover of wireline. It's only phase 1. You can't consolidate this many areas of the business and not have overlap of job function. The biggest hits will likely be at the VP, Director, Sr Mgr and Mgr levels. I agree with the previous post that the next rounds occur sometime after June 2019, so there's no backlash from people who didn't take VSP but got cut anyway for 1/2 the pay. After June 2019, that's no longer an issue.
What lawsuit? The company simply makes a policy change that states as of a specific date the severance policy is changed and publishes it before the effective date. I don't know that they will change it, but there is no guarantee of a severance package by law. It is totally under the control of the company as to whether they choose to provide one or not.
All are not being approved. some groups backfill jobs in excess of percent they wanted. others just deny the excess.
They are already trying to fill in spots where needed. Openings have not been posted yet but some are being asked to take over positions where it wasn't available before. So however you look at it, staying might have been a great option for some.
90 days notice? That absurd. Why would they lay you off then let a disgruntled employee keep working for 3 months? To find a job withing Verizon? There won't be any.
I'd rather not take the word from someone who can't write a few simple sentences correctly.
Bring on the lawsuits. If this is true the company mislead their employees by stating the normal package as 2 weeks for every year up to 35 weeks for their decision making.
30 days with 90 days notice so you can find a job see my earlier post trust me it's credible