Is anyone with the 60 weeks staying?
31 replies (most recent on top)
@Vn86izF-6cqo I've been far and wide to Verizon locations and you sir, have not described Verizon. Lots of other Fsckery to call out but let those of us who work here do it.
Verizon needs to shut down everything. They treat their new and many new employees like inmates and dont pay near enough for they do for the company. They force them to work mandated hours beyond a basic 8 hour day 5 days a week and if you refuse, your fired. You cant have your phone, or coffee cup. Everything has to be in a see-thru container and security guards to watch you walk thru a metal detector. No perks or incentives offered. If you win a gift card, the amount is deducted from your paycheck. Bonuses from sales are no longer offered, so doesn't matter how much you sell, you get nothing. If a friend is hired, they play stupid and you dont get a bonus for that anymore. They dont have enough support when trying to help a customer on the phone and theyire no where to be found and another customer leaves. They are buying out long term employees is what I've heard on the news. They have no intention or letting them stay. They may be a big cell company, but a very unstable one and its costing everyone the big$$. So let them go, and tell their guy doing the commercials to get a shave!
It's a difficult decision. 22 years in; 49 years old. No one I know who has left the company has been able to replace their income, but the stress level of staying goes up every year. There are simply not enough good people to do the work that needs to get done. The last couple of rounds of RIFs have been muscle and bone cuts, not fat. So do you stay knowing you'll be overloaded by the work or go knowing that you'll likey need years to regain the salary hit?
Late 30s, in my 15th year, then in the blink of an eye I received the micro site email. I want to send you all with 20+ years my salute and thanks for shaping the company and allowing people like me the opportunity to grow with the company you all built. Personally, I am not a conspiracy theorist, but there is much writing on the wall for many of us, both young and old with the company. Many close friends & peers are rolling the dice here and in theory, really just delaying the inevitable. There is much duplication, many layers of headcount as well as more and more external hires (inside 3-5 years with Verizon) then I have seen in my tenure. It was clear in the communication, lean and agile was the verbiage they used. They want to cut staff to increase margins by spending less outside of the 5G infrastructure. My opinion, I’m confident they will have a ground breaking, long term, 5G network. And with that, if removing management employees such as myself is the risk they have to take, then I will accept the offer. But I stress to anyone thinking of rolling the dice, your involuntary offer will not be al lucrative as this one, nor will it match what we have seen others accept in the past years. Do what is best for you now, but make sure to take tomorrow and further into the future into consideration. They are making sure we all know that this will be an exploding offer, and they are letting us know that for a reason. That reason should halt any of us from rolling the dice.
This is interesting cause I’m seeing a lot of folks in the fence to take package. However having seen so many lay offs, restructures, executive directors and VP’s leaving the company. In addition to how much I have to outsource to contractors vs internal req. writings are on the all this is the direction the company is headed. Hiring contractors that can be let go and trying to reduce their employee expenses starting with these packages. Not a bad company but a lot of this actions are dictated by investors to keep stock shares happy and pay debt for all those acquisitions (Vodaphone, AOL, Yahoo)
Wishing you all best of luck.
I am on the fence - not any easy decision.
@Vn86izF-1rva and you still think that the company is planning On keeping you with your high salary , vacation, and bonuses? This is a financial decision!, your days at vz are coming to an end ...
Staying. Good pay, good bonuses, good benefits, 5 weeks vacation plus personal days, good 401k. At 55 years old, too young to retire, too old to find a better job. I’m sure I could find a job with less pay, less benefits, and smaller bonus. I think I’ll take my chances staying.
Remember, just because you say yes, doesn't mean they will give it to you (they likely will though)
And just because you say no isn't a guarantee you won't get laid off later with the std package.
They are aiming to cut $10B in payroll. The only questions are when, whom, how, and how much (severance). What other people choose should be paid attention to because this poses a bit of a prisoner's dilemma to the employees.
disclosure: I'm not a Vz employee but I have relatives who are.
Already have my short timer's chain ready. One link a day gone until there are none left. Between 401K, Pension, Savings, Wife's job and the 60 week payout with STI included and no deductions for the extended Cobra, if I ever work again, it will be for something to do until my wife gets home from work. I am not even thinking about that however until I take a few months just to heal my mind and body. We evaluated our monthly expenses against the payout and could live on that alone for almost 2 years. Asta la vista...baby!
NO
59yo with 26y, I'm going. Would rather take this than get rif's next year when they don't meet
their numbers and the hack the severance. I could see them pulling something like 1 week for every
year or less. I think this is the best offer we'll see.
I feel for those not in a position to take this. No telling what company you'll be working for
after VZ finishes outsourcing and divesting assets.
The correct analysis is not about the package but the 25 extra weeks (35 v60). I assume most who take package will probably go in December...remember the company choses date. All portions of the package except the 25 extra weeks are the same with current package.. So make it until mid June and both options are equal.
My supervisor is staying and she has 30 years with Verizon/ companies acquired by Verizon.
I would go in a heartbeat; but, our group was excluded from the offer
Yes taking it.
Yes
I’d like to think it is a lot more complicated than just x people are leaving and y people aren’t.
There are many many different things to look at and many different situations.
Verizon overpays, overworks and in many groups allows no time for personal training/growth if you have anything outside of work.
I do have roots here and the only jobs are retail/restaurant or amazon picker/delivery type jobs. Companies are complaining they can’t find people to fill jobs that require lots of skills and training because not enough people apply for $9-$10 an hour with no benefits.
Of course people are staying. They rationalize clinging on, as their ilk are wont to. Bruce Webster would refer to this as the "Dead Sea Effect", the talented people leave and the less capable people remain.
Good for u but everyone situation is different
48 yo, walking with 56 weeks, retirement ready, no pension, taking the offer.
Did what most Americans don't do...saved for retirement and invested in appreciating assets which produce passive income. Did not blow up my life with bad marriages, ungrateful kids and other wealth destroying drama.
Most people can't leave the corporate trough even with this great offer. Emblematic of devolving American culture. So long
The ? Is will they change the severence
The last comment should have read probably stay.
Probably not, there is plenty of work. If we survive another yr or so with STI it would be a wash (calculating uncle sam). Even with 60 weeks and benefits it's great short term but unless you have something lined up long term is the issue.
Now if they come up with: severance and STI will be changed next year then, yep I would run like wind.
Very few takers in my group as the offer is not viewed as very strong. I guess that means they'll have to RIF to meet their numbers.
Is anyone with the pension staying because just to young to retire yet
To young , have no choice but to stay
I 100% want to go and feel I really should go with 60 weeks pay.
May have to stay because In years of looking haven’t found anything and I know people from my old department who are still looking after 5 years.
Just too far from retirement.
What is your reason for staying trying to get different opinions
I am on the fence 29 years only 52 years old in IT will have to find another job which I think will be difficult don’t get paid on the high end which package nice but not wonderful just worried if I stay they will cut severence if I stay 8 months and don’t get let go I beak even I know some may say it is a easy choice but I am not sure
Sure am. Most of my coworkers are too.