Why is Vz stating in the media, employees who volunteer receive 3 weeks of pay but there is no mention of the 60 week cap! This is misleading to the public!
19 replies (most recent on top)
"management" means "not-unionized". It's weird, but I'm told that's pretty common among companies where some are union represented and some arent'
Great post, @zfn. Copying it into another thread to be more visible.
@VmNlo59-zfn stated it succinctly, if you're not in your mid-50's take the payout and find greener pastures. There are no 'safe spaces' for the aging here.
Pensions? Didn't Verizon freeze pensions 15 years ago? A max of 60 weeks severance is amazingly generous from Verizon. Grab it while you can.
The 60 weeks is a nice buyout. What people who have not been with the company don’t ralize is that for many of us, we chose to work at vz because they were a fortune 20 company withgreat benefits and a pention. Then when we wher late/mid carreer working for the company, because they had spent down the pension fund on severance payments they froze the pension. As a reult, many of us had no choice but to stay for the portion of the pension that was left if you made it to your 75 points, or leave and not get any pension. So, almost all who could avoid a rif and who were in their mid 40s tried to hang on. Yet, that meant you had less available to you to retire. As, you get into your later 50s, the pension amount that was left starts to fall as well. anyway, many need to work to fill the pension gap (that is substantial. And, the 60 weeks only gets us a little farther to the goal, and then potentially without a well paying job (as age descrimiation is alive and well). I think many of us will take our chances and take the offer, and fair fine. However, the pension freeze was a low point, especially how it mpacted managers in their mid-40’s with many years of service.
See, y'all questioned the AOL purchase and now, when sway over information is needed, those choices shine.
Actually, the articles I have read DO mention 60 week cap. What IS misleading is that they keep saying "management" employees are being offered a package making it sound like they are the only ones being offered the package.
My relative has put in 24 years and yes those extra 12 weeks would have been better. The biggest deal to me is that there’s a no rehire clause. He doesn’t have a lot of skills that apply outside of the company.
Verizon has been misleading the public for years. They do it every time there is a strike, they inflate the salaries of their union workforce by adding the value of medical benefits to what is then advertised as their salary. The newspaper runs the add and nobody bothers to fact check.
We live in a corrupt society, the media does not care. You can be sure of that. Maybe if Verizon annoyed somebody important, then there might be an investigation, I'm sure there are plenty of questionable business practices that could not stand up to the type of scrutiny we see some people in Washington DC getting. But unless Verizon mess with the wrong people they will not be scrutinized by our so called "resistance" media. Just like nobody messed with Big Pharma for creating the opiate addiction crisis.
The fix is in.
Very good point. 3weeks per year sounds great.. I have 30 and people have acted like i just won lotto. Not saying 60 is not very generous...buts its not 3 weeks per year if you have over 20 which MANY do
Amazon workers making $11 an hour make for better headlines than well paid Verizon workers get up to 60 weeks of pay for doing nothing.
But even three weeks per year severance is only half truth. Significant portion of employee jobs are shipped to Infosys with no promise of severance. So, Infosys with $700 million contract will take on these employees for a year and then kick all out with no severance. So where is that article.
Its (potentially) over a year in pay. You're both silly and dumb. Get over it.
most of the public thinks that is more than generous even if it's capped at 60.
unemployed, under employed, and people making minimum wage have no sympathy for you 20+ year workers that are likely overpaid and have no current and relevant skills anymore.
Other than employees, no one else cares. Moreover, the standard package is capped at 35, so if you don't want the enhanced 60 don't sign the enhanced release, ask for the standard release.
The media can cut out whatever they want we aren’t worth more than a few words I’m surprised they mentioned any details.
3 weeks per year sounds nice but if you have more than 20 years of service this gets capped! The media is apparently not aware of this! Verizon is appearing to be more generous than they really are! I guess they can’t point to this as it is referring to the older workers they are targeting?
Likely because it doesn't pertain to the public. What does it matter to them? It's only the employees it impacts, and they know.
Thank you for your heroic service Captain Obvious?
What we do without you?
Oh, yeah, realize blatantly obvious things by ourselves.