Just trying to confirm the rumor I heard Thursday.
13k took it and 17k was the target.
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The reality is that we may never know. There was a thread posted earlier where people were asked how many people in their group pushed the button. 13,000 or roughly 30% seems to line up with percentages from that post. However, that unscientific study will not have taken in to account how many unpressed the button or how many are denied.
We can post a similar thread after 12-10 and see what the aggregate percentage looks like.
3rd QTR RIF....SIGN ME UP NOW.
Wall Street wanted more, downgraded, minus 3%. Think about it
13k sounds a bit high
Going through all of this just wanting to lose 4000 to 5000 from a 150,000 workforce makes no sense. We have shed that many and more via normal rif before
Even if double projected acceptance rate, will probably accept most. Too much exposure to class actions.. Maybe push more ppl into March+June.
We hear 11K took the offer, but that HR was looking for 4000-5000 employees to take it for this round. 22%-25% take rate is about right from what we hear from a few sources. Just passing it in.
44k pushed the button (or thought about it). 43k then unpunished the button.
29,000 took it...
I think they're going to get rid of field EUS. The company thinks they're worthless anyway. Maybe a few managers, but anyone working on any significant project is SOL.
@slk the poster is quite aware it's from the 2003 VSP.
@ izc You are living in a fantasy world if you don't think your org will eventually be outsourced, unless the InfoSys deal fails miserably. No one in IT is safe. Quite frankly, I am amazed by the number of people in IT who say they are staying even though the working conditions are miserable.
@ugb - that WaPo article is from 2003... wrong VSP.
Same in my VP org.And supposedly the VP is leaving.Interesting times
@kpu - That assumes a level playing field and the number that will be allowed to leave is being decided qualitatively, I.e. based on project or operation need, instead of quantitatively as the end of an HR and Finance cost/benefit analysis spreadsheet.
By the way, some VP orgs had more than 50% volunteer. Will know a week from tomorrow if any will be denied or any will be released on 12/28.....
Less than 10% in my onshore IT VP org applied. I think many are ones that they would have preferred to stay. I’m thinking my org is likely typical.
It's concerning to me how many people seem to be in the know with how many people took it, % of those allowed to go on the 3 off payroll dates and what is going to happen in 2019. As a 30+ yr management employee who has come to work every day giving 150% and the last several years have received little or no appreciation for a job well done. I never even received any congratulations from my boss or their boss when hitting my 30 year anniversary. I know I have made outstanding contributions to the company and have sympathy for who ever takes on my responsibilities because it's a thankless job with work that should be done by 2 managers let alone 1. Pressed button on day 1 and haven't looked back!!! Dec 10th can't come soon enough!!!
I heard more employees than they thought would take it, took it. They are trying to keep some people now.
In 2003, 16,000 management, 5,600 union accepted the buyout, 21,600 total. https://www.washingtonpost.com/archive/business/2003/11/18/21600-verizon-employees-accept-job-buyout/a2026d34-283a-4835-bc4d-c1be249320f2/?utm_term=.e87f746a6a9f
For the mass of humanity on this board, it is speculation until 12/10 or later. That doesn't mean there aren't execs who know. It just means it hasn't been shared officially with the lower ranks.
It's not speculation until 12/10 -- that's a false comment. Someone at Vz by now knows (especially those in HR and those at the executive level) how many were offered, how many pressed YES, and how many pressed NO. And I'm sure they have inputs from directors on who is critical to keep for the project and who is not. All these decisions have to be made in a systematic way in order for the projects to keep moving without any major halts especially to the customers.
You the employee will know by 12/10 but that doesn't mean your director doesn't know and if your director is wise, s/he would get input from manager under him/her.
Don't know what the target was, but 11,000 took it.
13k sounds a little high but I hadn't heard what the target was. I have heard rumors that 22% took it. It's all speculation until sometime after 12/10.