Anyone hear the rumor that not enough 20+ year vets took the offer, so it's being selectively opened back up with a pot sweetener? The incentive I heard was them giving an additional 5 year credit to the original package. Full disclosure, I have no actual information that this is happening just asking aloud if anyone else has heard about or received this offer?
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I heard that got their numbers and all will get to go. 50 percent on 12/28 and 25% each of the following 2 dates.
They offered me 10 weeks
Thx for clarification on VZ/VZW severance. w/r/t lump-sum. When I started with Verizon (NYNEX), there was a management pension. Then, they offered employees with tenure the option of a lump-sum or a pension, and less tenured with only the lump-sum (which would be added to over the years of service). Then the pension/lump-sum option was eliminated for employees with less than 15 years of service, and the lump sum amount was frozen with no further additions. Whatever was in there at that time can be still be taken as a lump-sum when I retire, but it has not been added to over the years.
what lump sum was discontinued???
@1tic there is no difference between the standard severance for wireless and wireline and hasn't been for many years. both are 2 wks/per year capped at 35.
The VZW (involuntary) severence is the same as wireline. Could it change? They do what they want.
my bs meter is pegged....
The FAQs say there's not a better offer being considered "at this time". So, whenever "at this time" ends, maybe there will be a sweeter offer. However, my opinion is that this voluntary offer shows good faith by VZ, and indemnifies VZ wireline when they change the severance plan for RIFs going forward, and bring it in line with VZW. Any class action that may follow will be defended using the voluntary offer as a "we gave you a choice" defense. This is all my opinion. I've experienced changes in my terms of employment (discontinuation of management pension, then discontinuation of lump-sum, then discontinuation of retiree medical benefits). These were profound changes to existing employee's terms of employment, so I don't see reducing the severance as a big stretch.
Not the same OP as that other thread. I just asked 2 questions. A) did you hear about that rumor? Someone else did. And B) Has anyone gotten actual confirmation in the form of some supplemental offer? I did not present myself as knowing that it was true as the "uncapped" person did. Also, calling something a rumor, people, means what it implies. There's talk of this thing around the water cooler, who knows if it is true or not?
More than 20k has opted for vsp
It's way oversubscribed...not under.
many people probably clicked on the 10th to buy themselves another week. So any numbers this week would (or could) be inflated, as people unclick before the 17th at midnight. the real numbers won't be known until after the 17th. you could say its kinda like the florida vote count now - and lots of fake ballots
What does 5 more years get you, it's already capped.
Nice try troll.
Now my turn.
They are going to announce that the Layoff package will be 1 week per year.
Capped at 5 weeks.
One set of BS, deserves another
Heard the opposite sort of, that way more than they expected took it, but no idea on breakdown of different groups.
Same OP?
https://www.thelayoff.com/t/W56pfHO
There is always worry at low levels about staffing during massive EISP offers. That matters not now. You wanna go? You're gone man. outa here. They are folding up wireline. Wireline NOC work has been transferred mostly to VZB who is also now doing VZW NOC work. You can sit around and see if the gasoline and match burn the place down, or you can do whats best for you. Someone in another post mentioned Vz going to court to get out of Pension obligations. Believable at this place.
What’s a 5 yr sweetener? What is getting sweetened?
Yes, heard the same "sweetener" rumor yesterday. 5 years.
Tom Brady is the GOAT !!
I think it's been well communicated that if you volunteer, you're getting it as soon as they possibly can. Denials don't seem to be in the equation.
Lawsuit 2.0
In our group too many volunteered (roughly 40%). So discussion with VP today was that some may need to be retained past the December 28th target. I'm sure it varies from department to department, but our situation is the opposite of what OP is laying out.
i heard today that too many put in for it so many will not be let go.
Total BS. Folks, they made an offer and either you took it or you didn't. If they do not get the number they want, then they will simply RIF more folks to get to the number.
Just wanted be opposite actually. There is a lot of worry too many took it and they are worried about either not being able to cover workloads or morale if they tell people they aren't accepted. Director levels are complaining the carrot was too sweet and too many want to take it.
It's "uncapped 2.0"
Did we not already fall for this see "uncapped"
Totally agree. Could be something going around for people to unclick hoping for a better deal. S---s.
Dont think so as they would cause commotion among people who already took and possible law suits etc