...until I'm paid $128k to go find another job. I couldn't be more excited to find out what life is like outside of Verizon. You can't ask for a better deal!
18 replies (most recent on top)
When do we actually get the severance check?
Your original post stated 128k, why did you change your math? You are not going to be paid out as leading and the STI payout is pro rated through last day of employment (18 weeks if you last day is 5/5) or 34.6% of STI at "on target" rate, not leading.
So 1 week base pay x 35 weeks plus 34.6% of STI.
The 190k figure is based on the 128k figure you called out in the OP
128k decided by 35 then multiplied by 52 would give you your current annual salary excluding pro rated STI and Vac payout (vac is something you have already earned and should not be included in severance calculations)
Yes tenured as in 35 weeks as in max severance payout as in tenured enough to get 35 weeks as in more than 20 years with Verizon.
Where did you get $191,000?
$130,000 a year at $2,500 a week times 35 weeks is $87,000 plus STI at LEADING or 110% is $17,000 equals $104,000 also known as LOW SIX DIGITS.
Like I have said many times. Only morons are left at Verizon that is why it is tanking post 2015. Blow Tango Bravo out your a$$....Retard
Tenured? Are you a teacher? I know several directors who dont make the 191k a year base you are claiming. Calling Bravo Sierra
"A lot of director level and above broadcasting their severance amounts it seems. Either that or a lot of BS"
Nope, I was a tenured Mgr.
Director payout severance is much higher. As a tenured, laid off senior analyst, my payout was in the low six digits. Very common actually when you factor STI and 35 weeks of pay.
A lot of director level and above broadcasting their severance amounts it seems. Either that or a lot of BS
Wireless employee here, RIF'd Dec 2015. I walked away after 47.8% taxes with $77,000, not including my payout for 3 weeks of unused vacation and 6 months of paid COBRA benefits. I also collected unemployment for 5 months at the max payout.
I got 35 weeks plus 5 weeks unused vacation....plus paid health insurance....plus STIs...good deal
When is the next lay off going to happen for vzw
Wireless has a different rif pkg then wireline then. Thanks for the explanation. Good luck.
No I'm not a union employee.
Might not be union... on wireless side i got 35 weeks as 2 weeks for each year plus factored in my STI into equation and then partial STI for 2018 gets factored in as well...i walked away with over 110K so its doable based on position/salary when leaving...
You say you you are getting 128k as a union employee ? I didn't think there was the 50k plus 2200 offers out there . 78k ÷2200= 35.45 years of svc . Care to explain ?
Good foy ya!
Yes, I've already figured out the tax part. I will take home $85000 after taxes, and am on my third interview with another company so am expecting to have no time or at most one week between the time I finish at VZ and start the new job.
While I'll admit VZ isn't the funnest place to work, it's unbelievable how well they treat people in a RIF.
You lucky dog. I can't imagine what it would feel like to get paid the better part of a year's salary just to leave.
Get ready to pay uncle sambo...