You do realize you've already given up more in pay and benefits than you'll ever earn back in any conceivable settlement, right? It only gets worse from here, especially if you lose your jobs permanently. I feel for you folks...your Union has mislead you, please think of your families and future.
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Also, not paying your 401k contributions is a triple whammie.....you are hurting your future income security, losing the VZ match contribution, and not getting the income tax benefit.
Your checks have no withholding so because the union doesn't have a payroll system that can correctly calculate them. However, as far and the state and the IRS are concerned, they are income and you will be required to pay taxes, social security etc. And as you are not an employee of the Union, you may be considered self-employed, and therefore also need to pay the portion of social security that VZ would normally pay. I suggest you ask an accountant.
@pcv - you have scab level reading comprehension....
My "take home" is off by about $100. My checks from local and national have no withholdings, whereas my weekly paychecks have state, federal, fica, ss, medicare, and the biggie, "catch-up" contributions to ira and 401 k for workers over 50 (we put about 35% of our pay into retirement funds).
@HqMu0lJ-czf I know you! You are the guy who always post Verizon outage map on this forum. Did you look at the map before this strike? I guarantee you didn't. There is no big differences between before and after the strike. Give us a break!
If you need proof the strike is affecting service please Google " Verizon Outage Map". Make sure you click the wireline map. That big, actually massive, red area from Massachusetts to Virginia is the result of scabs trying to do jobs they're not qualified to do.
Sixth strike for me, no you never make it back. Life goes on, only worry about the things you can control. So much bickering, just worry about yourself, because you really don't care about anyone but you
"Then why strike?"
So we get to keep the jobs that are actually worth having. It's that simple.
VZ has set aside a billion dollars for this strike.
Do the math. Let's say they are overpaying call center workers by 30k each (all benefits plus salary) over vzw call center workers. That would equal 840M over two years. It absolutely Maltese financial sense to rip off the bandaid.
Lol...typo "mess take" is more accurate than intended "mistake"
@ojz congrats to you, I'm sure the other 39,000 plus union workers are in the exact same boat as you and have zero financial troubles. Then why strike? I don't feel sorry for anybody that chooses not to work when they are fully capable of working, whether it be union workers on strike or people drawing welfare while they drive an Escalade. And based off of the emails I have seen this morning from leadership, this will not end tomorrow. EWA's are here through June/July until replacement workers take their place. Everyone, including EWA's, can get their hopes up all they want that this ends soon, but it won't. I hope I am wrong, but so far I haven't been.
So educate me...the union is paying you and your wife nearly your full salaries to picket? How does that work? You each make $20k per year full salary?
Congratulations on your pension cash out value, please remember that once it's gone it is gone forever. If you were working, the company would be giving you free money in 401k matches, (plus more pension if you LOS is less than 30 years) and your net worth would be growing.
It would s just math, folks...you have already made a huge mess stake and it gets bigger by the day.
In my household (2 union paychecks, 2 relief fund payments from local) being on strike means my household take-home pay goes down by about $100/ week. The local has picked up all of our medical bills. I have 4 days off to pick up side work to make up the $100 (I can do that mowing 3 lawns).
The EISP for my wife and I comes to $129,800, not including the bonuses and moving and tuition toss-ins. Our pension cashouts are $450,000 and $375,000, respectively. Add to this the peace of mind that comes from knowing that when we leave the phone factory, it will be on our timetable. We don't lie awake nights worrying about being riffed or laid off.
Post all you want about how terrible it is or how badly I'm suffering or how much standing and fighting has cost me -- you don't have a damned clue what you're talking about.
You might want to re-read the proposed terms and double-check your figures. If you lose your job, your new hospitality position at Walmart isn't going to make up the difference (although you can be thankful they raised their minimum wage to $10/hour).
I did the math, union, pension, non union, no pension. That's some real easy math, even for a dumb union guy.
It doesn't matter to the math if you saved in advance (although it certainly matters to your well-being). If you weren't on strike, you'd get to keep those assets...as it is you are spending them to stay afloat. Wireline will decline regardless of the outcome of this strike, more and more jobs will go away. You are wasting money you'll never earn back.
Verizon will be just fine. Wireline is now only 20% of revenues and 7% of profits...and continuing to decline. It will still be a very profitable company long after wireline is gone.
Take the money while it's still there.
"inl , my comment was for non union"
Apologies for misunderstanding, in that case it's usually called a RIF, at least in my neck of the woods...
As for the math, everyone in their right mind knew that this was coming right after that junk contract of 2012 was signed...it was just a matter of when, not if...
Personally, I expect us to stay out for quite a while. The meeting on Tuesday won't resolve much, since the disagreements over what's on the table are huge.
The company won't eat all of it in one sitting, and neither will the union. Both sides have way too much to lose if they act hastily.
cjs, Don't you read? Shammoooos own statement that Q2 results will be impacted. Is that proof enough? Go to lunch now, class will start again at 1:00 pm.
inl , my comment was for non union
"They can lay you off anytime they feel the need."
No they can't. They tried it in December of 2002 and it exploded in their faces seven months later, when they had to take everyone back and shell out the back pay for the entire period.
That's why we insist on keeping the job protection letter, Article 8 in NY and so forth...
same song and dance... don't worry about us.
Please show me some proof that VZ has been negatively impacted by this and not some Union rag rhetoric - give me actual numbers because the stock actually had a gain the other day and that pretty much should be a warning to you that the strike isn't doing jack sh*t to the company. The CWA is as crooked as they come and I don't believe a word they spew forth.
feu, Its apparent Verizon doesn't care about their own reputation.
They can lay you off anytime they feel the need.
@ksx- it's nice that you care about Verizon's reputation. loal till the end- huh?
If they can lay me off or move me out of state, I'd lose much more.
How is your life holding up?
How's that strike fund holding up?
hiv , and what purpose does the OP's post serve? Who does it help? Its a 2 way street. Take off your blindfold. Both parties are affected negatively.
The OP is right. @ksx: comments like that help who, exactly?
It's called saving money at least 1yr before contract expiration !
........... and Verizon has lost in reputation and revenue then they could possible get back.