When the VSP was announced the stock price did rise, as it did when VZ 2.0 was announced. It may move again if total numbers of employees leaving due to the VSP are released to the press.
The long term effects of the VSP will not be felt for a quarter or two after employees are truly gone. Once VZ has a couple of quarters under its belt without the VSP'ers and under the new org. structure, investors will have a much better idea whether the company can still execute at or near the levels it did before. If they can I don't expect to see much upward movement in the stock, if they can't I expect to see it take a hit.
Reposted this from @Wu9bF31-1eqi for being on point