Payroll off 12/31 shortest of all Rifs. Isn't there supposed to be 60 day notice legally. Please share any info.
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Also, off the payroll date of 12/31 is a small benefit. You will get your severance/vacation/STI in 2016, not 2015 when you have earned a years pay or close to it. You won't get slammed as hard with the taxes.
Not sure what the complaints are about. Those of us RIFD are eligible for a 100% STI. They could have done it 12/17, processed us off payroll by 12/17 and gotten significantly less STI in 2015 AND 2016. There is life outside of Verizon.
My husband was let go today, after 20 years of service. We are thankful that he has until 12/31.
Management people, at least wirleline side, your severance package details are available in About You, under HR Guidelines / Policies.
Yes 2 weeks for each year. And it used to be 6 months after 10 years. But, that has changed .
Last Rif in our group was 4 months. They were notified in dec, off the payroll march 31. But who knows, all of them are different.
are they honoring the severance payout - 2 weeks for every year of service up to 35 weeks?
RIFs are normally 30 days, 60 days are given when the numbers is large enough to implement the WARN Act. Like when VzW had theirs on 10/30 & 10/31, WARN Act notifications of 60 days had to be given, their last day is 12/31
no and this is the longest payout they have had thus far . More than 28 days is HUGE
if this is any consolation, having notice time is much better than past RIFed. There were times when they called everyone in conf room and took away their badges and walk them straight out of door.
most RIFS at VZ are ~ 28 days. This time they were 'generous'.