Though VzT traditionally has 2 weeks per year severance policy, the same at VzW end has been flat 2 weeks (regardless of number of years of service). With this new reorg that is being brought in, don't be surprised if VzT severance policy is revised to be in alignment with the same at VzW end. Good luck!!!
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Wrong. There's no binding contract for you to get a certain level of pay on an involuntary separation. Good luck proving anything nefarious during an actual RIF. They need to cut x%? Tag. You're it. They will NEVER tell you why. The company sets HR policies yearly. It'll change and you might not know it until you seek the information out. I check every year in the first quarter to see what surprises lurk.
Presumably VZ DOES find it worthwhile to pay the current severance to avoid law suits (they are not doing it because they value VTeam members!). So I'm sure that they have made some calculation that dropping it below a certain threshold would cost more than it saves. Remember, they are not suing because the severance was reduced, but because of some other (real or otherwise) reason, such as discrimination etc.
It's not that everyone would sue, most probably wouldn't, but enough to make it unprofitable. Not the threshold could certainly be less than 2 weeks per year (e.g. with 20 years of service, 20 weeks MIGHT be enough to convince me not to throw the dice by suing) but more than a flat 30 days
Yeah. Sue Verizon. Good luck paying for that on a 30 day package. They would bog it down to make it not worth your while even if you could win. They don't "owe" you anything outside of your accrued time off, some sti money, and any back pay (stuff paid in arreers) when you leave. They can change their policies at will for management employees because there is no union contract to protect you. Think about how they've changed sick time over the years. Many people lost 30 days of sick time for zero money back when they removed the accrual policy. They didn't ask management employees how they felt about it nor did they care.
30 Days severance would never be the case. If you take a severance package from Verizon, it prohibits you from suing them. Remove that and they would have a flood of lawsuits. What would you have to lose if they only gave you 30 days and you were older and had like 40 yrs with company
Haha! The vID is a bit much. "THEY" can find you. All I am saying is if you know a policy other people aren't familiar with give some kind of credential to back it up. Even a simple statement like I've worked at VZW for 5 years and here's what the handbook says. Seems logical to me to have a real discussion.
Please begin all posts with your VZID. I am V087572. Thank you.
If VZ is really getting rid of the old business units, expect to see policy changes across the board when this is over.
I know this board is anonymous, but I really wish people would preface their statements with things like, "I work in HR" or "My close friend in HR says..." or whatever before they post something like the OP. I'm not saying you made it up, but you had immediate disagreement. Now, nothing in this thread is fact. Cheapens the discussion.
“ standard package across the V. Mainly: 30 days notice, 30 days pay.”
They are always looking at changes to best meet business needs. Is it somewhere on some table sure. I don’t expect it though and right now I’d think someone is stoking the possibility and rumors fire to drive up numbers.
All of the information here is wrong. VZW has historically offered 2 weeks of pay per year of service. The current VSP offers 3 weeks of pay p/year of service, capped at 60 weeks. This is all public knowledge (documented internally & externally) so there's really no reason for false information.
My director said there was talk that after 6/28/19 all units are consolidating to a standard package across the V. Mainly: 30 days notice, 30 days pay.
There are no plans for this. Fact.
That statement is 100% false
VzW has a 2 for 1 up to 35 weeks policy
Ha Ha. I hope is not true. But who knows.
This will definitely push more people to take VSP compared to extending the package to more than 60 weeks