I am not complaining , but why did VZ give that 5 year extension ? Work is slow , no o t and a lot of temps . Some of us probably won’t take an eisp if offered because we still have 4 years guaranteed . So what did they do it for ? Is a sale coming ?
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With the 4 year contract it allows the company several options. They can try and sell or spin off groups and include the know fix cost of the contract as a lock to the new buyer or company, who would agree to honor since it built into the purchase price. They could also include a one time pay out to the new buyer or company to cover the pension cost for the remainder of the contract. Both of these would be one time hits that the following years would count as a cost reduction. What did they also get was the ability to bring in more contractors and temporary employees at a reduce cost. Knowing they did not have to worry about a contract issue allowed them to make the previous management offer. For those looking for a enhanced craft offering, that I would be surprised to see. Some areas might have a offer but many areas are meeting their targets by normal retirements.
Thanks Curly Bill.
What would I do?....I’d sign, then I’d crawfish and bust that devil in his @ss. What would you do Johnny?
Usually takes 18 months to sell. So plenty of time to announce sale and then offer. And they only have to sell their lit up fiber assets and keep the dark fiber for 5g. Most pensioners would jump at the right offer, and then Verizon can easily sell off rest of landline and save their 10 billion in operating expenses
@vkq ; wouldn’t they have to make offer before sale ? They can’t sell then lose employees
@vkq : I would take the money and run . But whoever buys it if it was sold , has to take over the pension or it goes to an insurance company .
The company has been shedding landlines for years HAWAII NH VT MA TEXAS CALI FL. problem with ny new England pa DC area is the expense, most notably associate pension and benefits. So good old Verizon will announce the landline sale first....and then throw an offer out there to make you senior associates choose. Leave with Verizon pension and offer or get sold. What would u do ?