Circa 2003 Vz Buyout Offered to 74k employees, more than 12k employees took the bait and retired that is about 16%. Back then pension enhancements were involved so we can factor that in for the large number of takers even though job market was not doing very well. So now for 44,000 employees in lieu of pensions we can factor in a good job market, it is possible that 10% or close to 4,000 will take the money and run.
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Here is what I fail to understand. Everyone keeps asking if people are going to take a buyout or package. Here is the real question: how many people are going to lose their job via buyout or RIF? The answer: as many as Verizon wants! Non-management retail employees are an easy out as the low cost to train represents a low value to the company. Next is non-wireless management. Many of them who have been around are mentioning this is a major change in policy, in which senior management is leaving. This sounds great until you realize you have an untrained workforce which doesn’t help boost numbers in the future. Next are union employees. Fios is being positioned to be sold off. Those who are offered a package and see no future with the company will take, those who live beyond their means or the older portion of the force will stay. These employees will then be forced out eventually or sold to another company. The contracts signed have clauses for the company to bail or close centers altogether or ship overseas. The company isn’t doing poorly, it is positioning itself to be more agile and realize the aging workforce is what is costing the company. If the company wanted 50,000 gone and could make their goals, they would do it without caring about who wants to take any level of package.
4000 is no where near where they want to be = RIFS