Thread regarding Verizon Communications Inc. layoffs

@2kxm, I agree with you.

Most have performed admirably, but too many are here are simply stagnant vegetables, just surface-breathers drawing a check, as if this were some sorta government entitlement program rather than a for profit enterprise.

Buh-bye!

This appeals to many I know of (including myself) who are not ready to retire but we are ready to go. We all have different reasons to want out and the package is a nice cushion that will help with the bills and a peace of mind for a few months while sorting out the employment situation.

I agree that it is a bit limiting and outcome is uncertain but overall not a bad offer at all.

You sound like you've wasted your time while working here. They are giving you a gift to take another job. You should be able to go elsewhere and make more money coming from Verizon.

The package is far from, as you say, sh-tty.

If you have been doing what you should have been doing, educating yourself and keeping yourself current and a valuable commodity, this buyout is all gravy, or icing on the cake as you’ll be re-employed in no time in the current job market.

However, if you’ve just sat at a desk vegetating, ordering those who actually get things done to keep getting things done, while ignoring the ample opportunity for self-improvement that was always at your disposal via the Company’s generous TAP Program, well, than, shame on you for your lazinesss and shortsightedness.

Read The Ant and the Grasshopper. It’s not a tough read. And stop yelling at the world if you’re ill-prepared.

Others are ready and well-equipped for “winter”.

If you apply for volunteer severance and get accepted:

1) ya don’t know if you’ll be released in dec 2018 or June 2019, so you can’t look for a job right away- don’t have a solid start date

If you are valuable to the industry, that won't matter much to you- and you get 60 WEEKS from your last day, not from Dec2018.. if your last day is June 2019, then you get the equivalent of being paid thru Aug 2020.

2) You can’t apply to Verizon again

As an employee, yes- you could come back as a contractor after 6 months (or earlier as a SOW contractor) but would you really want to work for them again? isn't that why you're leaving? If you love working for VZ, then don't volunteer.

3) Your severance gets taxed at the top of your current bracket so that’s prolly atleast 30% off the top

CORRECTION- your taxes are -WITHHELD- at the supplemental rate... (22% Federally, unless you make over $1M/yr (if you do, cry me a freakin' river)) subject to social security, Medicare, and FUTA taxes... so 30% is close- but if your regular tax rate based on your financial situation is different, you'll get a larger refund in 2020 due to excessive tax withheld. When you start earning other income in 2019, you can bump up your exemptions really high to reduce the withholding to offset. If your partner/spouse works, you can have them adjust their withholding to offset.

4) You give up all rights to individually or as a class action sue Verizon, if later they turned out to had some shady bs

This is standard practice to sign an agreement when accepting a severance. It also doesn't prevent you from suing if the company is actually engaged in illegal activity- the agreement could be considered void. Of course VZ is doing shady BS- that's why they want you to volunteer... their BS would be obvious if they said "everyone in Band 7 who makes over 100K per year will be RIF'd", because the age profile will hit people over 40 a lot more than those under.

5) Rest of telecom is full of contractor anyways no matter where you end up the security isn’t there

there are lots of both contractor and direct positions available if you have the skills (I'm a Cisco certified Network engineer with 20+ years experience- it's in demand) And you could be one of those contractors... no shame in that, it pays the bills... as long as you're good.

I don’t see how this can appeal to anyone but those ready to retire.

I'm 48, and it appeals to me because I could escape the VZ madness, and still easily get a job somewhere else before I'm 50. Those that are like 50-56 could be in a pickle... but in this economy, sell yourself as experienced and you'll do well.

If you based your entire career being an expert in some app that's only internal Verizon, I don't know what to tell you- other than sell yourself as someone who can learn other systems, and tolerate poorly written software on a daily basis.

Should have learned a new skill...