Thread regarding Verizon Communications Inc. layoffs

Verizon HCL All Hands Call today was a warning shot

Please read the last sentence before you tell me to post this on the HCL forum (which I also did). Just trying to reach the rest of the folks here.

So here is what I got out of the call (my director also held a meeting to clarify). We are 9 months in and the big re-org is coming. “Centers of Excellence” being opened in India and Philippines to take our jobs. We will be notified in the near future that we have 60 days to find a stinky HCL job at half our present salary if we want or take the Verizon Severance Package (35 weeks pay, STI, Retention Bonus, Unused Vacation Pay and 35 weeks paid benefits).

by Anonymous
| 3422 views | | 10 replies (last August 5, 2024) | Reply
Post ID: @OP+1tsNSSIm
Comment! It's anonymous!

10 replies (most recent on top)

@yea+1tsNSSIm
Does anyone have a reference explaining the Verizon escrow for severance? I suspect WARN notice will come soon, but I'd prefer not wait for more information to plan. Who knows what will actually happen? I'm not altogether confident in my assumptions so far.

by Anonymous
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Post ID: @ppro+1tsNSSIm

Take it and get out!!

by Anonymous
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Post ID: @2rfb+1tsNSSIm

This isn't hard.

Take!the!package!

by Anonymous
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Post ID: @2ynt+1tsNSSIm

@cxy+1tsNSSIm not necessarily. There were many excluded groups and yours could have been one of them.

by Anonymous
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Post ID: @1iyf+1tsNSSIm

HCL has some kid from India shadowing me now. I am a Service Manager. My boss said he expects us all to get the 60 day notice on 8/30. Last day would be 10/31. Verizon is paying the severance, not HCL. Verizon has an escrow account with $75,600,000 in it for severance to be used by 10/31/24.

by Anonymous
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Post ID: @yea+1tsNSSIm

We will be lucky to get 35 weeks. They will drag it out until Nov 2 2025 and dump us with no severance. Or better yet, cut hours/salary and hope we all leave on our own....but not until we train our replacements. But by all means, don't forget to live the credo.

by Anonymous
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Post ID: @qsj+1tsNSSIm

I thought HCL got the same VSP offer?

by Anonymous
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Post ID: @mah+1tsNSSIm

If you're close to retirement and if they offer a job with half the pay, then take it, cause you may not be able to find a job at this age and health insurance will cost you a lot. And in the mean time, you can start looking externally while you're still getting paid and have health insurance.

by Anonymous
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Post ID: @xud+1tsNSSIm

I meant 60 not 69. Guess you see where my mind is.

by Anonymous
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Post ID: @ywp+1tsNSSIm

It is such a shame what Verizon has done to the 5,000 of us. And to make it even worse they are giving us 35 weeks and if we were still there we would have the 69 week VSP offer. Hans is a slimy used car salesman.

by Anonymous
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Post ID: @cxy+1tsNSSIm

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