I doubt there is a 60 week cap. Reason-60 weeks is only 8 weeks more than a year. I have been here way more than 20 years and firmly believe that I could survive for at least the next year. So 60 weeks pay and 35 weeks medical as opposed to having both of those for I believe more that a year? I would not leave for an offer with those caps.
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The 60 week cap does seem like an odd thing to include if the communication is going to be that only those over 20 years are eligible and its a 3 weeks per year offer. As, that would = 20*3 =60 weeks. Seems like if they were only going to give 60 weeks then why bother mentioning the 3 weeks at all in the coversation and just say it’s a 60 week offer, period.
To those who say there are cheaper ways without an offer, there may not be a much cheaper way to reduce salaries, get the lump sum liabilities off the pension books, reduce the future severance, and reduce the age descrimination law suits, than with a buyout like this. Rifs have to have a cross section of ages and there are team leadership motivations often to keep experinced managers in place so objectives still are met after the Rif. The buyout will force a top down reduction of the higher paid, higher pension liabilty, high law suit risk group. As a result, the buyout may have the better financial benefit to verizon.