The severance offer is amazing. Why anyone wouldn't take it is a mystery. The next offer most likely will NOT come close to this one. For those who think they are so valuable to the company, get ready to pack up your things. You're only kidding yourself. Some of the smartest and best have been severanced previously. Not trying to burst any bubbles but POP! If you're as smart as you say you are, you'll take the money and look for new employment.
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I would consider a job offer elsewhere if I were you @VtJOwUv-1acs. Infy has data scientists and this job you are looking at could be moved to Infy just like some Analytics positions have been targeted to move.
There is a possible door #3. Accept the package, then they say you won't be RIF'd, so it was all a big to do over nothing. But then they rif you later anyway.
YOU WILL STILL GET THE PACKAGE if it happens in the period you would have been paid for.
Think of it as RIF insurance.
If you can't afford to be unemployed for very long, hit linkedin now.
The VZ sales pitch above was lame. Go away Hans
I’m not in the room but let’s say i have several friends that are as the details are being decided. Verizon isn’t going anywhere and with change comes opportunities, if you are positioned to take advantage of them. The fact is, this is only the beginning. Verizon is going to push innovation across how it does business from sales to network. This means a change in culture and talent. Those of us that have been around knows that Verizon doesn’t implement or execute very well and this will lead to several other changes. You will be forced to reinvent yourself regardless if you stay or go. The package and the job market is good, you should consider it if going down a dangerous and bumpy path isn’t for you. Both paths could lead to a better or worse life. It’s up to you to decide... personally, I’m taking the offer $160k and a new career sounds good to me.
I have got a job at Verizon as a Data Scientist. I am in my early 30’s. What is your suggestion regarding joining Verizon? Should I consider the offer and join Verizon?
Some are looking at the lump sum payment instead of a bi weekly salary the lump sum is much more enticing so that is what you need to get past to make the decision. Get the lump sum: pay off bills, take a few vacations, maybe a car. Now you are possibly down to a few months left to live on. Take your chance keep your biweekly salary and possiblly survive for a while.
Of course this doesn't apply to anyone well off or close to retirement, that would he an easier choice.
For those of you choosing to hang on, you will regret it if you are targeted for the next wave of employees being moved to Infosys. You will end up with no package, no possibility of applying for open internal positions and having to work for Infosys at whatever location is near your current office.
I wish I could elect to take the package. Had they given me an option - Infosys or package, I would have accepted the package. However, I am being forced to Infosys with no severance, STI held hostage and knowing Infosys will fire me in a year. If I don't accept the offer, Vz fires me and I end up with nothing. Meanwhile I get to work for a company that abuses HB1's.
If they RIF - is it really an if?
Of course they can Rif you in January, or February, or September. You have to go with what you think is the more likely scenario. I don't know how many people will volunteer or ultimately leave but I think it will take a little time for the dust to settle. Unless they get a really low number of volunteers I can't see them having a rif before June.
The problem is they can RIF you in January, your taking a gamble they will keep you for six months.
to those of you fretting about this but who are maybe in a position where you cannot go. Do not let others make you second guess yourself. All i keep hearing is about the 60 weeks and how you won't get that again. While that is probably true, The standard offer is 35 weeks, that plus 25 weeks = 60 weeks. If you believe that you can survive here for 6 months, then even if you get laid off, you've gotten your 60 weeks. If you get laid off in a year, you've gotten 87 weeks. So, don't fret about making the wrong choice, if you can survive 6 months here, you beak even. If you are here longer, you've done better.
You can see exactly what ages and titles are targeted in the spreadsheet on the Microsite. In my org the majority of eligible employees are in the 45-55 age bracket.
That "old people are targeted" narrative is pathetic, save it for after those who have elected are selected.
Many targeted employees for the buyout are in their early 50s. Too young to retire and with big bills, maybe including college tuition for their kids, not to mention that they need health care coverage. Not so easy to just go out and get another job at that age so the buyout is not as simple as the OP says. Many can't volunteer and will then either end up with mountains of work from the people who left or they'll get RIFd and not get the enhanced package. Not a good situation.
a few guys (myself included) have been told that they wont be let go even if they volunteer....
1; I call BS on that
2: how the heck do they know that since its not known yet, or is it.
3: then why the heck are we on the list then!
its crazy the rumors and such that run a muck in a very large company
“...and hope to squeeze in some learning...”
You’re deluding yourself.
Verizon from the board all the way down way down to my manager don’t care about me or value me.
I may stay because in all the randomness that makes my situation different than other people’s situation it is worth the risk to stay. I’ll keep working and hope to squeeze in some learning I could transfer to a new job when the time comes.
60 weeks isn’t a long time it would be over before I blink.
If they rif again you will get a package, and have the pay you get for the time you stayed. no gloom and doom.
Everyone has different realities. I suspect that some on the side of "take it and run" are hoping enough take it so they may feel safe staying.
I think while they may have decided there are redundancies in the position, they have not identified individuals. So for example if there are 10 senior developers they may want 4 off the books, but they havent identified them. Sure if less than 4 take the package, they will have to choose
So just because you are on the list your job may not be threatened
Facts. They even said hey if we rif again you not gonna get the nice package. Lol. If your position on the list. Ur expendable. Period. Take the payout and move on lol
op if that works for you great. People make their decisions based on their circumstances. Saying someone is foolish just because they don't have the same opinion as you indicates you have an immature mindset.
"Through pride we are ever deceiving ourselves. But deep down below the surface of the average conscience a still, small voice says to us, something is out of tune."
Well said. They are giving you a gift. Accept it and move on. If you don't make the decision, they will make it for you. And I agree, the next package will not be as generous.