I hate to say it but this site and the rumors have been pretty on point. People have been laid off pretty close to when this site says it will happen. I never would have imagined that this company would really lay off 44k people. This is ridiculous!! I was talking to other employees at wireless and they seem to think there will be additional rifs if we dont get rid of 44k. This is just speculation. I wish someone would just be freaking honest to us. Right now we are just guessing.
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Facts are in short supply, must be election season.... the 44k is not a layoff - READ, it does the mind good.
They will never come out and say that they have a specific number of employees that they are looking to get rid of "but they do", they will also never say that they ran reports and found that a certain percentage of employees have 20, 30 even 40 yrs with the company and are still working - that's who they want off the books. They will take volunteers with less time if their department can operate without them, the deal is they have a number of employees that they want off the books and if those employees don't take the buyout they will get riffed in late Nov anyway. They want a younger, cheaper more agile work force - if they fired 50k people tomorrow and realized they made a mistake, they would just hire new employees for less "and that's how they think"
@mah - I Looked at the numbers in the spreadsheet provided with job titles and age under each VP, and correlated them to entire organizations, some that support customers with contracts.
Did you look to that detail? It's obvious you did not. VZ would be in breach of contract- some of those contracts have headcounts associated with them. The bottom line is 44,000 were given an option, with an expected/planned % to take it.
A standard RIF is done in such a way that people who are favored by their management (at the level that is making the choices) will stay. With a voluntary severance, people that want to stay or those that feel trapped will stay. Neither is perfect, but IMHO the enhanced VSP was intended to get those close to retirement and/or unhappy with the company's direction to jump ship.
Anything else is conspiracy theories.
they would be very happy with 44k leaving and then backfill with cheaper labor as needed. They don't care about gaps, that's for directors and manager levels to figure out.
This site has information and misinformation all over the map... so if you look back, you can cherry pick information to support any "prediction" you want.
HaHaHa , you mean eventually this site may be accurate, it may take years for a prediction to come true. ,Your post by the way is not accurate, but you already know that. Spammer...…...
Jobs that were once thought to be important will just vanish and so will much of the work. Some of that may be waste, much of it isn't but no one will realize it until things blow up months down the road. At that point, leadership will build a business case to add headcount, it will get approved, hired then RIF again down the road. It's one big circle and it's a game. Play for as long as you can and get paid pretty well. Just don't expect to be able to work a career here and retire. You become a target long before that will happen so it's wise to have a plan B.
"There is no way they would take all 44,000 that were offered in one sh--".
Wrong..... kinda. Maybe not in one shot, sure. That's why there telling you, you get to leave after the holidays or w/e we tell you. They would absolutely love all 44,000 taking the offer, that's why they offered it. They would just use you until they don't need you anymore (March of next year) then lay you off. With companies like Amazon running sh-- now you would be dumb to think Verizon Wont try to eliminate a mass amount of there work force. Way to much dead weight.
"Unfortunately, I think they probably are. Hans laid off over half the workers at Ericsson. And they had a 178,000 employees."
you haven't looked at the list of job titles that were offered the VSP.
if all of them took it, VZ would not be able to meet contract requirements. There is no way they would take all 44,000 that were offered in one shot.
"The company isn’t laying off 44,000..."
Unfortunately, I think they probably are. Hans laid off over half the workers at Ericsson. And they had a 178,000 employees.
It might not be immediately -- but Hans was brought in as a hatchet man. (He sure wasn't brought in for his knowledge of 5G.)
The company isn’t laying off 44,000, they’re offering them the option to leave and it’s this large so they can’t be accused to targeting specific groups. They probably have a number in mind that they want to accept the package, maybe about 10,000 or so.