Right now there is a huge holding pattern going on at the low level management ranks due to the vsp. There is significant uncertainty over who is leaving. The 12/10 timeline on notification is quite increadible given that a very large number of people may get an off payroll of 12/28. Since most people don’t know if or when they are leaving they are not starting to transition anything. It makes sense that many get the 10/28 date for vz financials, and trying to manage 10k or more with a latter date will also be challenging as the late daters will start to lose focus. Yet, this 12/10 notification date means all the 12/28 group will only have basically 2 weeks to transition their functins and tasks and teams. A short window may be ok for small numbers, but these large numbers so quickly will be very challenging given that many managers have rolls and skills that require on the job kind of training/transitioning. People can not expect to get a list of tasks without time to transition. Supervisors often do not have that level of detailed knowledge of every task, as staffing levels don’t allow for that, and it’s encouraged not to be redundant in roles and tasks. This leads up to the thought that 12/10 should be formally moved up into earlier than 12/10 wherever possible.
15 replies (most recent on top)
@Wl7N1aw-tnq it was very well planned, if you put your name in, you'll be gone most likely 12/28. In fact that was the only thing that has been planned...... If one hasn't been approached to stay till March or June then you can bet that you're gone Dec.....
Just wanted to throw in that Shankar himself said on his last conference call that any gaps identified would be filled with contractors. So there would need to be a good reason to not get rid of the majority on 12/28. Whatever “crucial” job roles need to wait would still have a later off-payroll date, but make no mistake, this is all being done methodically and is going according to plan for them. They’ll pay a contractor half of what a FTE makes to do the job. Any job. Nobody is that valued by Verizon. Employees don’t matter. The bottom line does.
That being said, there is still the question of yes or no. Time will tell. 11.5 more days to find out.
1dqq- I agree with you, except for maybe the evil part. The interesting part is the 2003 buyout actually singificantly accelerated the pension freeze as they raided the pension plan balance to fund severances and the package, which created the shortfalls for the future. Many of us are still at VZ today to try to cover the shortfall it created. However, it was the complete raid of the fund, per work by Covington and Burling and Watson and Wyatt to use the 24Billion in over funded pension plan, that lead to the plan being underfunded by 2005 and the freeze. It was certainly not just VZ that broke their implicite promises due to mismanagement and financial manipulation to screw their managers.
VZ was one of the leaders of the raids though. The u.s. is suffering from these deeds as while many at vz now have continued on here and saved, with no defined benefits or something similar, its a race to the bottom in corporate america. I remeber vividly Babbio and Seidenberg saying during the 2003 buyout discussions saying, “the buyout is not just for those leaving, but for those managers staying it will make a stronger company that will make it even more rewarding for those that stay. We have plans to make the management compensation even better.” Maybe it was for the two of them, and a few of the other execs, but with the frozen pension following two years after the buyout due to the $24b rundown in the plan,not so much for any that stayed.
This VSP was given for one reason and that was to get ride of the older workers why else would they be backfilling. If they want us to go restore our pensions and benefits that wh had when we took the promotions because it was better. We're run by evil greedy disgusting people.
Do what you can but you are out 12/28. It’s someone else’s problem now.
the business unit I support will be doing 1/3, 1/3. 1/3 on timing. About 30% took the offer but 20% of that group will be rejected. Plan is to backfill 60%. Reduction in total will be under 8%.
Might as well have just done a RIF like always rather than this cluster. If you are going to roll something like this out, you best be prepared to make the hard choices and let people go.
I for one, will be transitioning my duties as best I can. I have made a detailed work plan trying to spell out what is to be done, when it needs to be done, and who the contact is for certain information. I’m being paid and I care about my coworkers who are left to pick up the pieces. Always be nice and professional. You never know who you might end up needing somewhere down the line. You’d be surprised how you might bump into someone from your past. Depending on how you treated them could hurt you or help you. Plus, if I haven’t mentioned it before, you’re being PAID! Do your job!
@1dww That's BS. I have no doubt they may temporarily hire contractors to fill short term needs but they won't be rehiring anyone.
I have heard the former employees who retired have been called and put on standby to come back.
12/28=95%, 03/22=4%, 06/28=1%
Haven't met one manager yet who has truly cared about a transition period. It's usually here you go, screw you and figure it out...and don't come asking any questions. True story, former manager, who only cared about herself is now in jeopardy of a future rif after abandoing the very team that brought her up for a "better opportunity" that will soon no longer exist. Bye bye. She deserves it...she rifd our team members back in Jan/Feb and then hung that over our heads as a constant threat. Our director did the same. Let the Titanic sink, I dont care anymore.
Nothing about this was planned or thoughtfully organized. It's simply about financials.
And I agree, if you are leaving, why do you care? Jot some notes down and pretend you are leaving 12/28.
Let's go with 12/28=50%, 03/22=30%, 06/28=20%
Who cares if you can’t “ transition your functions “ , your leaving !
one day i hear: 12/28=90%, 03/22=7%, 06/28=3%
the next day I hear 12/28=50%, 03/22=35%, 06/28=15%
Conclusion, at this point it is all BS
They don't care. Those who didn't leave will simply have to figure it out in January. My team knows who is leaving and there is nothing going on to transition their work. It will simply be reassigned when the volunteers are gone.