I am hearing significant discussion about a July/August RIF and again later the 4th Q. I’m very worried as I have 18 Years and I clicked the button for VSP but was denied. I believe that any RIF after the final VSPers go in June will only pay 30 weeks severance (maybe less). Would Verizon actually do this to avoid paying the 60 weeks to people yet still get people off the books? Doesn’t seem fair but I’m sure Verizon could care less about fairness to the remaining employees
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Be prepared is all one can say. My guess is layoffs can and will come in the Fall again. And yes, VZ would do that.
""I am hearing significant discussion about a July/August RIF and again later the 4th " Sorry this is total b---s---."
Here we go again. All you have to do is check out what Hans did at Ericsson. More layoffs are not only probable, they're practically guaranteed.
Verizon itself is the bathwater.
It's a good idea to drain and refill a bathtub with new clean, fresh water occasionally.
"Almost all the positions seem to have been filled again. I wonder if they were done at a different salary level" - 1nmg
Are you serious? Obviously Captain Obvious does serve a function to a few.
@ZAFafTW-1qzp exactly. Almost all the positions seem to have been filled again. I wonder if they were done at a different salary level
The amount of hiring and promotions sure seems to have gone against the goals of the VSP. I think the next couple of years will prove to be very interesting at VZ.
2019 is all clear.
No RIFs are coming, this is a rumor. We are slammed with the 5G roll out. The CEO had everything to do with the VSP before he took the wheel from Lowell. Hans was the CEO of Ericsson and VSPs were VERY common. I know because I took the November VSP offered by Ericsson in November of 2015. Proof once again that most of the OPs on this forum are full of it as well as most of the uninformed trolls who respond to these posts. I literally come on this board to read the humor and unfounded panic you all lather yourselves with. I’m going to flush now, I just finished wiping.....
And if you get outsourced then you lose your RIF money. That itself was a motivational factor for me in that I considered the RIF money to be my going away present, the one thing that I could count on as being whatever Verizon would call a retirement. And all of a sudden I saw it going away.
I had right around 17.5 years in so I was basically done accruing RIF bonus anyway. Them seriously sweetening the deal with one hand and rebadging my coworkers with the other hand told me to get the heck out.
Standard severance is 35 weeks and no I don't think there will be a significant RIF through the remainder of the year. Note that I said significant. There will be pockets here and there. Now outsourcing? That's a whole different ball game. New EVP of HR is keen on those I hear.
You all must realize a company the size of Verizon does not owe any employee a dime. The majority of the states are right to work state or what is called at will
@ZAFafTW-vgn Why would those business consulting firms do the study? Because they are invited by the CEO and the Board.
I don't think there will be, but IF there are RIFs end of July, that'll be 30 weeks of 2019 employment + 30 weeks of severance, making 60 total weeks. Yeah, s---s you had to work those 30, but still you break even payout-wize (more or less). That's the type of math I did when I decided NOT to take the VSP. Gambled I'd last at least through the end of 2019 (52 weeks employment + 30 weeks severance is greater than 60 weeks).
The CEO is a puppet. If you know anything about Verizon RIF's don't come from the CEO, but from the numerous business efficiency consulting firms they hire so slash headcount.
Verizon still has over a 130,000 employees. T Mobile has 50,000. Hello? Can you hear me now? How can Verizon compete with that much overhead? They can't. More cuts to come. Many more. Anyone who thinks they are safe is a fool.
How do you even know that they're still looking to cut to to the number the last CEO envisioned. Maybe the number has changed? A lot of other stuff has. Why is that lone thing written in stone?
The elephant in the room is when will the first RIF happen after the June VSPers roll off. The company is still on the hook to cut $10B by 2022. The clock is ticking.
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" Would Verizon actually do this to avoid paying the 60 weeks to people yet still get people off the books?" Of course they would.
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"I am hearing significant discussion about a July/August RIF and again later the 4th " Sorry this is total b---s---.