How long does it take between being laid off and receiving the severance payment from Verizon?
Also, is it true that there is an option of severance being halved or completely removed down the line?
It's sad that these are the kind of things that we now have to worry about basically on daily bases.
As someone who was recently laid off you yet 2 weeks pay for each year of employment. I got laid off 2 months after my 8th year of employment and got 17 weeks of pay. Last day on payroll was may 3rd after that the next week I got my paycheck for vacation time. If you submit your severance as soon as possible it takes 3 weeks exactly to get it. Also i made sure to cancel my health insurance when it was due to expire if you do not they will continue to keep it and you will owe the balance until it’s canceled
Sprint was at 2 weeks severance per year like VZ. They changed to 1 week per year in 2017
Four weeks after last day worked is a reasonable estimate for severance pay out, often sooner.
There is no requirement for an employer to pay severance at all (just have to pay you for days worked) so it's certainly possible it will be reduced. Some big companies did this fairly recently. However, there have been rumors for years about this happening with VZ, and they haven't done it yet so who knows. 1 week per year would still be more generous than many employers...