Thread regarding Verizon Communications Inc. layoffs

I’m not sure if it was because I was in wireless and non union but I got my severance check deposited a month after my separation date and not the 6 weeks to 2 months. I will agree that HR is totally clueless on how severance works from the printed instructions they send you on how to navigate the automated phone menu for the Severance Call Center to the answers my HR rep personally gave me. You better off calling the severance department yourself.

"Also, because the money doesn’t accompany your last pay check, it is subject to a supplemental income tax for “bonuses” for federal and, in NJ, state tax purposes. Don’t be shocked if you only get about half your stated severance, with the rest withheld for tax."

Federal supplemental this year is 22-23%, which might be less than your marginal tax rate depending on your (household) income. So the other danger is that you might need to pay estimated tax to avoid a penalty when you file.

"Also, because the money doesn’t accompany your last pay check, it is subject to a supplemental income tax for “bonuses” for federal and, in NJ, state tax purposes. Don’t be shocked if you only get about half your stated severance, with the rest withheld for tax."

Federal supplemental this year is 22-23%, which might be less than your marginal tax rate depending on your (household) income. So the other danger is that you might need to pay estimated tax to avoid a penalty when you file.

Did your lawyer not tell you that going on the layoff board to gloat about your extra cash settlement would break the confidentiality agreement, and you will soon be giving it all back when the VZ lawyers see your post?

All: these aren’t the only issues. You also will likely wait 6 weeks to 2 months to get your money deposited in your bank account from the day you leave, regardless of when you sign. Also, because the money doesn’t accompany your last pay check, it is subject to a supplemental income tax for “bonuses” for federal and, in NJ, state tax purposes. Don’t be shocked if you only get about half your stated severance, with the rest withheld for tax.

Also, I strongly suggest you have a competent employment attorney review the package and discuss your issues.

VZ broke the law in my case and I got extra cash for it. Shortly after getting a solid performance review, I was told certain of my duties were being taken away from me. They then laid me off to give my remaining duties to a minority hire from an acquisition who was taking my position and a larger bunch of duties. It turned out those greater duties were the ones that had been taken away from me for no reason a few months earlier. It is against the law to layoff an employee without cause and immediately replace him with a new hire doing the exact same job and a hiatus from certain duties for a month or two doesn’t change that, especially when it’s done to circumvent the law. The incompetence of HR and the labor lawyers in that little stunt got me a year’s severance, rather than the 6 mos I was supposed to get. Having a lawyer paid off.

Good to know... Checked the severance website and everything is completed, even made sure I received my confirmation for faxing... Just switched all my lines to tmobile and it felt great.

Good to know... Checked the severance website and everything is completed, even made sure I received my confirmation for faxing... Just switched all my lines to mobile and it felt great.

Good tips here for future "Severees"- because there will be more. It's the Verizon way!

When I got Rif'd in 2015 I went into the office I worked at (last time I will ever darken those doors again) turned in my phone and used their FAX machine to send back the paperwork, NOTE: print a copy of the transmission log after the FAX machine is done and keep it with your paperwork. Wait a week and call to see if it was received ok. Just a thought.