Who else is really jealous of Verizon employees right now who have been offered a buyout option?
A friend will receive over 200k if he decides to accept it.
I can't believe he is even thinking about it. I would be responding within a minute of such offer, just to make sure I'm the first in line.
As I said, lucky them.
Friend of mine is getting the offer. 3 weeks pay per year as stated and a year of medical paid by VZ (doesn't come out of their pay). Easily beats the typical T offer.
Hopefully AT&T will change their severance offering if they are really wanting folks to take it. Capping at 6 months just doesn't cut it. Many more would take it if it was a year or more. If these Verizon numbers are real, I'd be eligible for 72 weeks. Which I would jump on immediately.
Randly needs that money for a plaztic surgury, he lookz likezhit, lol
@bel, “Kudos to Verizon for taking care of their retirees!!!” A nice sentiment, but it bears reminding back on June 30th, 2006, Verizon put a freeze on any contributions they would ever add to Verizon Pensions AND Medical Benefits. At that time it did not affect Union employees or those who had already retired but for any one working through the last 12 years or beyond....it made a lot of difference!
As for the OP’s assertion that a friend will receive 200K, even Reuters (as of 3 hours ago) doesn’t have the details on that much less the managers that are impacted. The Verizon Layoff board rumors surmised 3 weeks for every year of service but no mention was made, by Reuters, of the:
A) Minimum years of service required to qualify (Verizon rumor board consensus is 20 yrs or above).
B) If there would be a CAP on both those weeks of service/pay & Medical Benefits
The prevailing thoughts/Verizon rumors were 60/60....still not too shabby, huh?
Remember OP, I’m not saying you’re wrong, just that it seems way to generous and unstructured to be such a high amount for your friend.
3 weeks pay as an outside tech for 38 years...I'd be all over that.
Come on ATT! If you REALLY want to get rid of the older workers, give us a package worth leaving for!! Kudos to Verizon for taking care of their retirees!!!
I was surplussed recently, even though I look at it as early retirement, and it does seem that Verizon has always been run a bit better than AT&T. I'm not saying this with 'sour grapes' but their stock always seemed to do much better than ours. It also seems they are treating their managers much better than AT&T does. I know AT&T has a huge amount of debt with the TW buyout but Verizon just seems better run.
I feel sorry for those at AT&T that are trying to get to the number of 75. For those with good degrees it might be best to look elsewhere. Layoffs have been every quarter, for a few years and will continue, and I would not want that if I was young with a good degree. Older people close to the magic number of 75 just need to hope they last long enough to get that number.
here is what the original poster is speaking about Verizon Communications Inc., looking to trim its workforce, has offered early-retirement packages to thousands of staff, including all of its management employees as part of a broader cost-cutting effort. The largest U.S. wireless carrier by subscribers on Monday offered voluntary severance packages that include three weeks pay for each year of service, the first such offer in at least 13 years, a spokesman said. He said the package was more "employee friendly" than prior offers. The move is part of a broad, multiyear $10 billion cost-cutting effort at Verizon that has been led by new Chief Executive Hans Vestberg. Frontline sales employees were excluded from the offer. Verizon had 153,100 employees world-wide at the end of June."
I guess I’d be ok with second in line😄