Team I came to know from internal sources, VSP Coming soon.
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It’s funny when I read. “Frontier people are gone”. I’ve talked to 3 Verizon people that have claimed to be “legacy” employees because they had been here for 20 years or less.
This clowns don’t realize that “most” frontier employees are actually real legacy that came from Verizon or were even here before Verizon with GTE or Bell Atlantic. Before you start parroting who they are going to get rid of. Maybe you should understand your place in the lineup. True legacy Verizon people came from GTE or BA. Those are the people that have the most relevant experience for operating a Telco including wireline( transport) and cell. We built the damn network.
Go back to rah rah meeting and tell each other how important you think you are.
@xk VSP is seen as negative by the Street. It's a desperate move because it drains the talent pool first. But again, only competenent management that thinks long-term would consider that.
RIFS are cheaper, VSP avoids the negative headlines.
After the last VSP, GTS had RIFs because the VSP did not get enough takers.... they had a target for the VSP that was missed, so they rif'd. While I passed on everyone,
Frontier employees.Bye
NFW!
No way they offer a VSP
I thought Dan didn't like VSP?!?!? More than likely, just another RIF. Expect it in 2 weeks, then again every quarter next year
@jc His desire to cut costs quickly might be enough to counter his distaste for VSP. He’s clearly working for his P&L linked bonus and maybe a potential sale at some point which would net him even more money. Don’t think for a minute that any of his principles aren’t pliable for the right incentive.
Sorry to shatter your dream, Dan does not like VSP
@fc Senior Directors will say how high when VP says jump
@fa conceptually true
@f4 true, unfortunately tribal knowledge is not transferable and certain Senior Directors will jump on the opportunity only to find their team is incapable of delivering ontime on any effort.
https://www.inc.com/geoffrey-james/open-letter-to-44000-verizon-employees.html
@f4 we already know this. We were told months ago Verizon might only be keeping frontier employees til end of conversions. Nothing new here..move on
Any Frontier employee better start looking for a new job Asap. Those who are left are being used just to boost Verizon’s knowledge. Best of luck.
@eh how are they determining who will get the VSP offers? Just union?
It will be several thousand voluntary then a larger # for involuntary.
Mostly nontechnical
November. Mid-month. Pretty much every tech org and company it seems
@eb fact is if they want all the old people out without risking lawsuits they need to offer VSP
@dt If you haven't noticed, management changed and Verizon entered a financial engineering period. Ruthless cost cutting drives high EPS, FCF, ever increasing dividend and stock buy backs.
@dc they could have RIF any time before as well so why did they offer VSP in the past? What’s the difference now?
Surely the management can't wait to offer a VSP with 3 weeks a year when they can RIF you with 2 weeks without asking. Recent Su-k Together changes totally support that hopeful view.
Let’s hope this is true!
Jesus, this place is so full of sh-t
Is it coming to Frontier Employees?? We normally get offered VSP before layoffs
@bc I actually heard this rumor too by someone that has access to high level leaders.
@a2 you wish
the op is trolling us. not a snowball's chance in he-l for VSP after all the cuts
@op more detail!!??
As long as Dan remains CEO, there is zero chance he will offer VSP.
@b3 “never” is too absolute a word. Many thought never after 2018, then there was a VSP in 2024. Very unlikely this year or any time soon. But never say never.
Hahaha… In your dreams! VSP is a thing of the past.
That ship has sailed, never again.
If by soon you mean this year ….then I doubt it. With the VSP in the past they gave us weeks to decide if we wanted to take the package. Then the list had to be reviewed ….etc etc.
As others have mentioned, if people are gong to be offloaded by YE, then it’s time for a RIFsgiving or a RIFmas miracle.
@a4 yeah, Verizon is totally comparable to Microsoft, that's why we have so many people who left MS for VZ!
OP - You are confused with the other VSP (Vision Saving Plan).
@OP can you share if it’s for regular employees or union?
Don't confuse the two. Next one will be a RIF. Now, that being said if you have a good relationship with your boss you could "mention' your interested but it's still going to technically be a RIF.
RIF (Reduction in Force): An involuntary workforce reduction initiated by the company. The employer decides which positions or employees will be eliminated, and affected employees generally have little or no choice in the decision.
VSP (Voluntary Separation Package): An offer made by the company that allows eligible employees to voluntarily leave in exchange for a financial incentive or separation benefits. The employee decides whether to accept or decline.
@a4 same!!! Anyone with 20 years would be a fool not to!!
Hopefully its for all just like Microsoft. So many people are ready, if its like the last one (3 weeks per year) I'll click the button all day long.
For union only???