#severance

There is no box to put my signature in…

Not sure if it’s just me, but my severance calculation and agreement show 2025 STI as $0. Does that mean I would not get STI in Q1? Or is it that 2025 STI isn’t part of the “severance” and is instead just paid out in the normal course of my compensation? I have received STI every year since I started at Verizon

Has anyone heard anything about the severance package being cut in half next year?

After reviewing my Severance agreement and release document that finally came into our portal, it shows your severance amount at the bottom of the document.

However, for me, when I compare this amount to the Severance calculation worksheet, it uses the same amount that is shown under "state mandated pay requirement" & "final pay." Instead of the pay shown in the "Total Severance Pay" line item. I am in NJ. For anyone else here, does your service release form also show this discrepancy?

Do we have any clarification as to why our severance is the lower of the two amounts shown in the calculation (which is exactly 50% of the amount)? I've sent a request for clarification to HR, though I have yet to hear back. Curious if anyone else sees this or knows why. Obviously, we would all want the higher amount, but it is confusing why they were showing us two different numbers, and then on our release, it is using the lower amount.

I can’t find info on when we will get severance check.

What happens if I decline severance?

Maybe I want to keep legal rights. severance may require waiving claims.

Maybe terms are too restrictive. noncompete or gag rules feel unfair.

Maybe i hope to negotiate. first offer seems too low....

Maybe i want clean unemployment. severance could affect benefits??????????????????????

Fu--ing, maybe I feel rushed. i do not want to sign under pressure.

I first asked my supervisor here in Bloomington Minnesota and learned that on December 15th we shall be informed that our office is closing. Most of us are very happy to be laid off because we are all so done with this $chitt-hole place and are looking forward to the awesome termination package we get per our union contract. We get up to 2 years pay for those of us with over 31 years service. We're already celebrating! Sorry to the managers who only get a tiny fraction of what we union members get. Funny how we've all watched as all of our work, piece by piece, has become automated or off-shored - and we can only laugh about it.

The plan was to allow people to choose to move to Dallas and choose a home near HQ or south, where homes are slightly more affordable. Then move HQ ~26 miles north (which falls within the loophole for severance), adding another hour plus of traffic if you live near downtown Dallas. This will NOT be the only move that will be happening. other reporting locations near Dallas are also moving north.

Coincidently the company is aware of what demographics will be most disproportionally impacted. For those employees who live in south Dallas, this will put your drive (in traffic) to about 2.5 hours each way.

Could some of you help me with what I can actually expected to receive after my last date of 12/19 in Ga office? I see a specific amount calculated by my total comp divided by years of serviced and then multiple by two.

Will I receive any of the following in addition to that?
1) Vacation days paid out?
2) Current Stock together un-vested amount?
3) 2025 STI?

Thank you.

Just saw this movie and it’s about Verizon.

The gist of it is a company laying off employees and everyone is on the chopping block, even the ones who don’t expect it. And the ones who get let go get a small severance and struggle to find work.

I turned paperwork in for severance and my ticket got closed last month. I keep checking ADP site and still no indication of if I’ll receive a payment. Only thing I see is I can sign up for payments on a card. Will severance be paid out direct deposit or am I expected to sign up for a card? HR system is a mess with not being able to speak to a live person. Anyone else struggling to get through to HR for severance info?

From Verizon:

Severance pay calculation - The program formula: If you become eligible for benefits under this severance program, your severance pay amount is calculated using this formula:
Your years of service TIMES
Your weekly compensation
TIMES 2

My severance document is split into “State Required Severance Pay” and “Final Severance Pay” - it looks like they’re using the NJ WARN Pay as part of the severance instead of in-addition-to. That doesn’t seem right?

It is now new tactics to save money. Giving forced NS to senior person and lay him off without giving any severance package. Thus company is saving money.This is new trend in visa

We were supposed to receive an an email later Thursday with details on how to access the severence website, how ro register, etc. Myself and three other co-workers did not receive it. Reached out to leadership and followed thier recomendations, but that failed too. Now I have ro deal with HR Answers.

Everything here is broken.

Former V Teamer here. I severed back in '23. I landed a new job after 3 months as a call center director. The call center I run has doubled in size over the past two years. In my experience, its very eye opening that so many qualified workers are just not good at interviewing. Its so important to answer the interview question with a specific situation, describe the actions you took, cover the outcome, and to be succinct. The job market it ROUGH and even getting an interview is challenging.....so when you do get an interview, you have to knock it outta the park. My advice is to practice, look up Ted Talks or YouTube videos around how to interview. Go to your interview with copies of your resume and cover letter. If attending the interview remotely, have those digitally that you can offer up to the interviewer.

Pro tip-at the end of the interview they typically ask if you have any questions. This is a key opportunity that many people miss on. Ask them what their ideal candidate is, ask them what challenges a new hire will face, ask them how a new hire can set themselves up for success. Make them think of you in that role, show them you are prepared to hit the ground running. I know it seems small, but its small stuff like this that can set you apart from the candidate pool. I remember not getting my first AD job I went after at Verizon. When I got feedback from my director, she said it came down to the formatting of my resume. I was shocked by this feedback, then it hit me...IT WAS THAT CLOSE. Its about standing out in every possible way. Hope this helps someone!

Key Point

NetApp did not follow required federal rules for layoffs involving employees over 40.

What Went Wrong:

The Older Workers Benefit Protection Act (OWBPA) requires companies to give employees over 40 a written list of:
The job titles and ages of those selected for layoff
The job titles and ages of those who were not selected
This information must be given before or at the same time as the severance agreement.
NetApp did not provide this list with the severance documents.

Why This Matters:

When a company fails to meet OWBPA rules, parts of their severance agreement become invalid and unenforceable.
That means certain waivers in the agreement cannot legally block people from taking action.

What’s Happening Now:

An investigative group has been contacting many of us from the April and September layoffs.
They are gathering details about who was let go and how the paperwork was handled.
The investigation appears to be tied to a New York firm preparing a class-action lawsuit.

My Decision:

I’m joining the class action.
Anyone over 40 who was affected should look into it as well.
If the required documents were never provided, the severance agreement is weakened, and federal rules were violated.

Sources for Verification

OWBPA requirements (EEOC):
https://www.eeoc.gov/laws/guidance/age-discrimination-older-workers-benefit-protection-act

OWBPA explanation (U.S. Department of Labor):
https://www.dol.gov/agencies/oasam/centers-offices/human-resources-center/owbpa-guide

Your vacation balance will be paid out the next normal paycheck after your off payroll date and the severance is above an beyond your vacation time payout and will be another payroll period after vacation is paid out at the earliest

Anyone else like he-l no.Im done not doing nothing .Its over I’m riffed pay me my severance it’s not supposed to be work weekly pay checks

After signing the Severance Package (or even now) ... can we still apply for Unemployment benefits? If so when?

Another question, my State's unemployment site and other sites say you have to apply where you reside. They assume your employer is in the same state. It is complicated to apply for Unemployment as a remote worker if Vz office is in a different state?

Hey, I see a lot of posts about 12/20, which is what my AD advised, but paperwork says 12/19. It is not clear if I will receive STI or Stock Together. Can anyone advise in this scenario?

Left VZ after 21 years, during last years 5K Fall VSP. Like many of you, I gave it my all. Slept with work phone by my side. Worked nights, weekends, relocated 3k miles for new job assignment. I thought Verizon was everything, I was irreplaceable and that customers who worked with me would raise a stink when I left. Here’s the skinny…VZ is a big ship. It sails on with our without any of us. If customer service suffers no one cares. As long as we equally su-k like T-MOBILE or ATT it doesn’t matter. My position wasn’t replaced, but others picked up the work and life went on. Three months latter I found a new job with less pay and benefits, but interesting work. If you’re headed out the door just know your lump sum severance benefits will be taxed and almost 40%. If you’re securing private insurance post benefits extension, know that costs can run upwards of $900 per month (private market) outside ACA and if you’re transitioning to Medicare know the severance will crush IRMA in 2028 causing Medicare costs to equal private open market premiums. Two months out leaving VZ su-ked. 14 months out super happy to be gone. 21 years of watching, or listening to self entitled middle managers, AD’s, Directors tell me the ways of the world, or tell me the sky’s blue while raining outside, or having them be dismissive of every suggestion because they know best, - yeah happy to be out. Verizon’s managerial bench is mostly comprised of 30 and 40 something managers who possess little more than the ability to execute an executive order without consideration for how the action impacts revenue or profitability. Most of these managers hold BA’s from marginal schools and advanced not because of what they accomplished or said, but due mainly by an innate ability to navigate the politics. If you’re one of the 13k being “decruited” the transition may prove uncomfortable, but the payoff will hopefully prove remarkable. Good luck.

is there a process, what about cobra etc? It seems that everything is geared towards folks taking the package.

End of 60 day notice/ beginning of Severance pay..is there a lapse in pay or
Do the paychecks continue unless
We opt for the lumpsum
Amount?

I’d like to approach my manager and volunteer for the severance package. 1 pay period per year that is.

Are they accepting volunteer layoffs at this time? How does one know if they are?

Corporate America back to its old tricks.

The obfuscating language is always telling. Just like calling a janitor a sanitation engineer is a fiction meant to obscure the job, "forever layoffs, micro firings" and such are meant to hide the real thing.

NEVER keep your layoff a secret. Just like you should discuss your paycheck, and your employer cannot legally stop you, you should discuss when your employer lets you go so everyone can know that the company is avoiding their legal responsibilities for unemployment and severance.

https://youtu.be/4Dd33C4k-Zs

I’m employed until December 20th. Are we required to work, meet with our boss, be available? I’ve already scheduled a vacation for next week.

So unfortunately I got laid off, but I am still collecting paychecks until February. Will my payroll deductions to my 401(k) still be happening until February? What about the employer match? Has that ceased immediately? Just curious.

After 13 years with the company i was unfortunately amongst the many who were layed off. I was completely blindsided . I am currently on FMLA and was given the news on Friday. I was told I am entitled to severance pay , or that I have the option of resigning and reapplying within the company . With the current hiring freeze and not to mention I would lose all my years … this just seems to me like they want to save them selves from having to pay me severance.

Really hoping someone can help, I have asked HR, surplus line and my supervisor and no one knows answer, will getting severance impact unemployment, I was surplused 11/6 and am struggling to get job so need unemployment to help, I thought I read in here once a post that this lump sum payment should not impact unemployment but I cannot find that or the reason why it should not, appreciate any input from anyone who has been in this situation

US has the weakest employment protections hence global companies appear to be shedding US roles to India. The weak severances add risk for those affected and financially solvent to consider class-action lawsuits if they do not to sign separation agreements that prevent such an opportunity.

Any1 tryna to or hoping to re apply after their severance for a vzw role that opens up in a similar part of the business after their 6 mo timeframe expires? Guess you can be rehired after 6 months. Anyone’s supe tell them they will try and bring them back into a similar role after 6 months? Anyone’s leaders say they foresee spots opening back up in the next few months? Mine keeps telling me that she swears she will be able to get me back into another sales role in the biz in a few months timeframe with new reqs. Anyone else hearing this? What do y’all think?

Any1 tryna to or hoping to re apply after their severance for a vzw role that opens up in a similar part of the business after their 6 mo timeframe expires? Guess you can be rehired after 6 months. Anyone’s supe tell them they will try and bring them back into a similar role after 6 months? Anyone’s leaders say they foresee spots opening back up in the next few months? Mine keeps telling me that she swears she will be able to get me back into another sales role in the biz in a few months timeframe with new reqs. Anyone else hearing this? What do y’all think?

I was let go in June and wonder if there's still potential to receive a pro-rated bonus for 2025. Manager discretion aside, is there a required minimum number of months of employment to be bonus eligible? TIA.

If laid off, is the last paycheck 2 weeks after your last day on payroll?

Benefits Information for U.S. Employees
January 21, 2025
NEW U.S. SEPARATION PAY PLAN
Introducing a new BNY U.S. Separation Pay Plan (to replace U.S. Supplemental Unemployment Benefit Plan (SUB Plan))
This February we are transitioning from BNY's U.S. Supplemental Unemployment Benefit Plan (SUB Plan) to a new BNY U.S. severance plan (Separation Pay Plan). The transition will simplify severance, align it with industry standards, and provide more flexibility for employees whose roles are eliminated.
The Separation Pay Plan provides financial and healthcare support for eligible employees during career transitions. The key changes will be:
Severance payments will be made as a lump sum (rather than installments).
For employees enrolled in BNY healthcare coverage at notification, an additional lump sum payment will be included as part of the severance package. This will be calculated based on the amount that BNY would have contributed to healthcare benefits for the severance period (with a cap at 20 weeks).
• There will generally be a 30-day notice period during which active pay and benefits continue (previously 2 weeks).
• Severance will not stop or need to be repaid if an employee obtains a new job outside of BNY.
Guidance on Severance Calculations
Eligible employees may receive severance pay equal to the greater of 2 weeks of base pay per year of service (no change from previous plan), or minimums shown in the chart below, with a maximum benefit of 52 weeks of base pay. Separation Pay Plan benefits are subject to the requirement of a fully executed and effective release of claims. All Separation Pay Plan payments are taxable and subject to wage withholding.
Officer Title
Minimum severance under New
Separation Pay Plan
None
4 weeks base salary (same as before,
Analyst/Associate/Senior Associate
8 weeks base salary (same as before)
VP/SVP
12 weeks base salary (same as before)
Director/Senior Director
16 weeks base salary
Managing Director
20 weeks base salary

Indian employees will be informed about rifs on 12/04 and will get one month of severance per year worked.