Thread regarding Verizon Communications Inc. layoffs

There will always be more RIFs. They've been going on for years. This was a financial move on the company's part, but yes, they will back fill some positions. The VSP was not targeted enough to prevent the need for back fills. This isn't age discrimination, it's salary discrimination, which is a byproduct of an aging workforce. They will hire new people below market rate. This will give the newbie's room for growth and opportunities for promotions, neither of which I've seen for a long, long time. In due time these people will be in the same position we tenured people now find ourselves. I wish them well. This is the company's "reset" button. While I would have stayed a few more years given the opportunity, I think I'm ready to rest. As a stockholder, I do hope the company continues to do well.

It is an internal financial move, to transfer labor costs from the existing business into the new growth areas that Hans has been cheerleading for years. Yes, it does keep The Street happy too because they're establishing and growing a new business (with little-to-no short term revenue) at no additional net cost. This creates "free labor" for massive internal capability build-outs.

Some forget this is a strategic move, motivated by keeping Wall Street happy, but also a political move on Verizon’s part. The VSP satisfies both.

For me personally I have applied and hope it’s accepted, Verizon isn’t the only game in town, it’s time for something different. The job market for the moment is better.

Some critical departments ARE getting backfills. Are you not critical?

You might not be getting it. Why would they offer packages to 44,000 people just to backfill their positions. NO BACKFILLS has already been stated by management. More like moving people around.

Look for positions to start getting backfilled in the new year. The major wave of volunteers will be off payroll by the end of the year, and then they'll be able to start hiring replacements.

When are they going to start hiring? We at Nokia (in NJ and IL) are getting laid-off by 100+ every other month and are depending on our friendly neighboring company (Vz Wireless) to hire us.

OMG another RIF is coming ! OMG! What are we gonna do now? OMG!!!! Come On people! At this point of the game, we are used to it.... Verizon is not the only company doing major layoffs ...

It might be worth sticking around if our director gets a forced RIF and our cell manager gets the same. She's the first director in my 20 years that never had a skip-level meet, and he's the only manager that got demoted from switch to cell manager. And they're both still here! Could be a great morale boost for our team going into the new 5G buildout season with new higher-ups' to answer to.

Is not rif.

Top performers would be the first to opt in. Economy is good, package is good and the way this was rolled out and communicated to employees was not good. It was structured in a way to force people to gamble on staying. Safer bet if you can land another good job is to take the money and run, so that's probably what many are doing.

From the calls I've been on the past two days, there is a panic and worry among leadership that too many accepted the offer and they will have to deal with significant staff shortages. They were hoping for 10 to 15 percent take, instead they have been getting 34 to 40 percent take. One shouldn't worry about getting RIF at this point but about getting slammed with the workload of 4-5 people with most of the top performers leaving.

Oh my god ... theres a RIF coming!

Been there done that every 3 months for the past 15 years.

Reorg, RIF, reorg, RIF, reorg, RIF.

If you are so worried about it YOU (OP) should have clicked the button

and move on.

I am sure it will be a while before the dust settles on all of this. I would think no RIFS for 6 months unless they really didn't get a significant number of volunteers. I think they will have plent.

44k people were sent the option, so again all 44 cant be gone. They have been saying on the exec calls that you shouldn't leave of the uncertainty, but rather a new life and so on. Why would they say that if they wanted a hoard of people to push the button. Everyone from the dir and below is panicking, so you can imagine it will be a while before the dust settle, RIF's anytime soon would be crazy. but again i have seen crazier stuff lately.

The only thing that is known for sure is that the folks that take the package won't be in next RIF. Everything else is pure speculation.

RIF today or RIF tomorrow, but there's always RIFs.

This thing has been rehashed here many time. People will be RIFed if they dont reach their target. If they reach their target, there will be no RIFs immediately