Is anyone taking the bait?
20 replies (most recent on top)
You can't be rehired as an employee, but the terms clearly stated that you couldn't return as a contractor >FOR 6 MONTHS<
There's even a loophole for that- if you're on a SOW contract, there's no time limit. Gotta love lawyers and their loopholes.
Doesn't matter to me, I'm supposed to get promotion to Sr. Manager because of managers leaving.
That's even more confusing to me- Both cities I've worked in for VZ, EUS has been contractors.
@vqp according to the information you are never eligible for rehire at Verizon again.
EUS = end user support they fix computers and phones etc, part of IT but not going to infy, “yet”.
It's a big company, @mcx
wtf is EUS?
I clicked the “volunteer” button today, it felt great! I’m below the 60 week max but it’s still a good deal to remove myself from what has become an unbearable workplace.
They will withhold at the higher rate but your actual tax owed is based on the normal tax tables. For simplicity, if you’re paid out a package equal to one years salary in 2019 and don’t get another job, you’ll get money back when you file your 2019 taxes because of the high withholding rate on lump sum payouts. If you do get another job and have higher than normal income in 2019 your effective tax rate could be higher if you move into another bracket but that’s normal when your income increases and the higher rate is only on the income over the threshold, not all your income.
Sure did, nothing to stay for in EUS.. someone turn out the lights on your way out.
@VqCyRy9-fzs, you read the plan details
@VqCyRy9-vqp read the plan details. There is no coming back as a contractor or consultant. Ever.
@VqCyRy9-ysg ...yes you will, Uncle Sam is going to take out allot of money, That is another drawback to this mess. i am sure someone will post some % when we get closer to deadline. Think about when they take out the STI stuff, it might be a bit different though with the good ol taxes changes.
I know that they aren't able to take ALL who volunteered (otherwise there would be less than half left in my department alone), but I sure hope I'm one of the chosen, Two months is a horrible long time to wait and find out.
Happy to. I'll be back as a consultant in six months if they actually let me go.
Volunteered today. However am uncertain now knowing that it'll be taxed at the supplemental rate...
I think it depends on how long you've been here. I've only been here a bit over 3 years. I'm 50+ yo and frankly I'm overpaid for what I'm doing now (not for what I was doing when I started here). I could almost certainly find employment elsewhere, but at my age I think it would take a while and it would definitely result in a 30% pay cut. I look at the package vs what I'm likely to get if I'm RIFfed afterwards. I assume I'll still get the STI, so that leaves me with 10 weeks pay vs whatever they give to RIFfed employees (I think usually 4 weeks?). I'll take my chances over losing 6 weeks of pay.
To be honest, I LIKE my job. I like the team, I feel like we're doing something important, I like working for Verizon. I made it through the RIF a year ago after my team was completed gutted. I agree morale s---s, I hate the uncertainty, I just want to do my job and do it well. I'm not kidding myself but I hope it's enough.
I am taking it; I am part of EUS and the only other option being offered up in January is us being shoved to InfoSys. Since I have been with the company for several years I wouldn't be as "profitable" to a contracting company as other less tenured employees.
Like a shark going after chum.
Bait? I think the bait would be staying in this $hithole of a corporation. 5g will be a bust and then the $hit will really hit the fan.
Take the year's worth of money and run unless you are someone who can't get as good a job elsewhere within 2 months
Nope -Riding the Storm out. If are not taking chances then you are not living and will get nowhere.