For those who follow Verizon, you know that in an effort to transform the company to be more agile for 5G, they offered a voluntary separation offer to ~44K employees, which would give them 3 weeks of pay for every year of service, etc. Perhaps to their surprise, they were hoping for a 10-20% take rate but ended up getting a 30-40% volunteer rate. Some VPs have been telling their teams that they won’t hold anyone back who wants to leave. Furthermore, the goal was to get most volunteers off the books by the end of the year, with others being asked to stay through Q1 or Q2 of 2019. Employees who were told by their leadership that they would be approved had an incentive to volunteer and start seeking immediate employment to start in January. With a twist, these VPs were recently told they could not backfill anyone (or only a small percentage) whom they approved to leave. However, if someone were to organically depart (via accepting a new job or retiring), they would then be allowed to backfill those positions. With this, employees who they knew were seeking employment or had landed a job externally (as encouraged by their leadership to do) are now going to be denied the separation package. The reason for denial is to allow them to keep their headcount via backfilling these employees who are set to leave on their own accord. This is a very deceptive practice and selfish on the part of these leaders. I hope Verizon reverses their stance as I hate to see my fellow V-Teamers treated in this manner.
Sounds pretty typical of an American telco. Then once not enough people take the VSP they will have non-voluntary lay offs.
V is an absolute shit and toxic company. All those denied should sue.
*VZ.
TC and YoE or GTFO.
Wtf... You GTFO dude ! Be human & at least and let people say what they want to...
Why does the layoff has anything to do with 5g?
It’s the corporate excuse. It’s really about cutting costs to fund the dividend and reach their $10B goal by 2022.
Sorry to hear this. This is just greed. Someone from upper management will claim they saved the company millions and get their bonus for the year.
Typical of VZ though. December is going to be a mess.
Any confirmation of revoking VSP for those that took the package? I've heard that everyone will get it but a team with many departures will need to stagger each one between Dec 2018 and Jun 2019
I don't know if TMobile is any better though. Their CEO is an asshole
It seems like voluntary separation will be the way in a lot of firms going forward. GM just did it as well.
Those left behind are going to have a tough time once the 6/28 departures complete. Because in some instances, the lionsshare of knowledge will be walking out the door for a particular customer. Once the dust settles, then see how the layoffs are handled.
I thought they were going to transfer people to some Indian company.
They’re doing that as well. This is incremental to that effort.