Heared for all manager with20+ years of srv,also a package for craft sometime in oct,that is what im hearing ,hear 4 and 4 but maybe all rumors
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Actual years worked. The "4+4" only drives whether you are qualified for retiree benefits and, whether you have a fully vested pension or not if u pull the trigger
If they give you four and four, and pay 2200 per years of service, is that four years that they give you included in that figure, or do they give you 2200 for actual years worked?
I was told accounting wouldn't let verizon treat the rifs as adjustments to EBITDA anymore, so rifs would count against executive bonuses from now on. Therefore, better to do it in one shot for them.
Ill believe it when the papers are in my hand.I have been here a pretty long time and have seen the degraded way the company treats us lower level managers,if its true im OUTTA here
Does this include wireless non management with 20 years meeting the rule of 80. Hope it does. Fine if capped at 60 weeks better if no cap.
Packages are being sent out next week per our VP. Eligible employees will receive them on Friday (pay day) , not Monday as rumored on this board. All Wireline Management employees with 20 or more years service will get a package. The offer will be 3 weeks pay for every year service you have. One year of free Cobra medical coverage is also included. If you are under age 55, but meet the rule of 75, there will be no percentage penalty taken off your pension (annuity or lump sum). Dates off payroll are 11/1, 1/1 or 6/30 your choice. Your decision to accept the offer will have a deadline for all 3 dates of 10/19.
The difference between a 60 week cap and no cap is fairly significant in my case and may make a difference in calculation to take it. I guess it depends on their target numbers.
Craft is union.. under 20 you get to clean up the mess that will be left behind when thousands take tjis offer and run!
I was told age+svc =75. Butouts don't get reported to the gov't and are ineligible for unemployment,if they RIF and the number is over 5000 they have to report it to the gov't.
tbp, They can also lay us off with little or no severance too but they haven't done that either. As a matter of fact, the RIF last december was slightly more compasionate than the previous ones. 6 weeks until off payroll instead of the customery 4 and you received all of your severance in 2018 as opposed to 2017. And, this is a new guy at the helm. who knows what he would do or why.
no offense but I don't believe a word of this. There is NO incentive for them to do this when they can just do a hard RIF with specific numbers required.
Six weeks pay, for every day worked, is what I'm hearing.
They can RIF for less.
1cvs. My post is zmw. The only difference I heard from what you heard is that there is no cap. it's 3 weeks per year. And that they will pay for cobra for 35 weeks, not 1 year. I guess we shall see.
1cvs. My post is zmw. The only difference I heard from what you heard is that there is no cap. it's 3 weeks per year.
you made a choice not a sacrifice to become management. Easier work, but no job security. Less benefits and so on.
I am considered craft/non management,I didn't get my buyout packet yet but a few others did today.
Co worker who received his has 10 years .Same as usual they are after the more senior reps.I think they usually accept anyone over 5 years.
This is crazy when associates are being offered 50k one time bonus plus 2k for each year to leave the company. So unfair to us that made the sacrifice to become management. I only have 12 years this is such a shame.
Employee buyout packets were received by some today
BS
The management package is for 20+ years yes, but it also says that your age + service has to = 80. They will rank people by that and let them leave from highest to lowest until they hit the # they want. Also, after that, severance changes to 30 days. I hear the packages will be fedex'd to your house on Monday 9/17.
Who is craft? Any word on less than 20 years?