So is VZ looking to shed 30% of the total workforce, or 30% of the 44k offered the VSP?
I saw a comment that they want 30% of the 44k to take the offer. That won't get anywhere
near the $10B savings goal.
7 replies (most recent on top)
Do the math. 12.5k taking the vsp at 200k (cost to the company) per employee over the 4 year period is 10 billion.
The number sounds massive, but this would be a 12% layoff, we have seen far worse in the past.
To HR. Don’t be an asshat. It’s just a question and numbers are being thrown around all over the place. I’ve even read rumors that they want to get the numbers under 100k. I don’t believe that..but it’s out there. Hey, Fo the record, I hope you take the package. I can already guess what a joy you must be to work with. Or are you just one of those people that goes on the internet to call everyone stupid?
if you read the latest earning report, they are already savings close to the 2+ b a yr with zero based budgeting, so adding in a few heads cuts it will make the numbers. You cant announce a great quarter and 32b revenue and then go ahead and get rid of the workers that got you that on top of keep those numbers going forward. I personally thing this is VZ way of doing this without calling it a RIF and the "known" numbers are probably not that high.
We shall see hope this is all smoke and mirrors, but not going to hold my breath.
To OP, not ony are you confused. You are stupid. 44k is 30% of the workforce but NO the company does not expect 100% participation. They want 30%. So if the target is reached, that would be less than 10% of the company. You are obviously dead weight and have no common sense. If you were offered the package, please take it.
Lowells promise to the street was 10 Bil over 4 years, not bil per year (I think)
15K + the saving (open source, etc) will get close to the require 2.5 mil per year.
Don’t be so confused , it’s the first step
Who knows. They know the 44K is the sweet spot so if all accepted, hallelujah.😂