Managers are currently in meetings after being asked to rank their employees. Not a rumor.
35 replies (most recent on top)
@OP Not a rumor. Wall Street Journal had it last night and the VZ Newsletter had it. 15,000 people RIF. Didn't say when though
@fv+1k9wh5j49 no it does not mean that. Percentages are usually expressed at the SVP/EVP or business unit level.
@am+1k9wh5j49 the health insurance you have as of your termination date will be paid for by the company for the same number of weeks as your severance.
If the layoff is 20%, does that mean 20% from every team under a Sr Director? Or could it be that one entire team os impacted while others are not impacted at all?
@am cobra or marketplace - been there
crazy expensive
most people choose to simply not be insured
choose that or buy food
but big wigs wanting couple dollars in stock value wouldnt know
let them eat cake
@bb that's true. I was told same.
I can verify that's true for VBG
@aq+1k9wh5j49 yes you can port number, but you have to turn in the device
Today, Sr.Dir and AD both left from imp meeting to attend something they could not say “No” to that meeting.
Another AD, cancelled regular meeting and became unavailable for whole day to attend another meeting. Sounds like today might be final heads decided to execute next week.
It depends on the group. Some names on the list are non-negotiable and others are being asked to rank their employees
@ar the current customer service that we have now are trash. They literally make problems worse and give no solutions. I try everything in my power to not have to talk to them.
@OP lay me the f~~k off. Pact lnp tier 2 over 15 years
@an not you. If you still think this isn’t happening or that this copy and paste out of an actual Verizon comm isn’t real, you’re in DEEP denial. Polish the resume, start applying for jobs.
These people who keep asking for sources are clueless. It’s obvious when someone is a union unorganizing troll vs an actual employee with legit.
Call center representatives need to go. They chose wfh, which they felt there were deserved. All it did was prove how easy it is too outsource there work , showing how worthless there are.
@ak.
Small issue, but is it known if we can port our consession ptn? 22 yrs of using it for personal dual authentication will be a hassle to correct!
@am Health Insurance: 2 weeks per year of service
@ak source????
@ak what about health insurance? I know we’ll be covered til the end of November but will those affected be covered or do we have to pay for outrageous cost of cobra?
Layoff Communication Timeline
• EVP/SVPs: Notified last week
• VPs: Being notified this week
• AVPs/Senior Directors: To be notified next week
• Direct Managers: Will notify impacted employees on 11/20 via phone call only (no WebEx or video)
⸻
Post-Notification Details
• Impacted employees will be removed from payroll on:
• 12/20, 1/20, or 2/20, depending on state notification rules
• After notification:
• No office visits allowed
• Work limited to transition duties only
⸻
Compensation & Benefits
• Bonuses: Paid out at 100% for the year (no proration)
• Accrued vacation: Fully paid out
• Stock awards: Will fully vest at their scheduled times — no loss of stock value
• Unemployment: Eligible, even if listed as “forced retirement”
• Severance:
• 2 weeks per year of service, up to a maximum cap per job band
⸻
Additional Context
• Further layoff rounds expected over the next couple of years
• Current phase involves 20% cost reductions
• Company undergoing major restructuring — work methods and operations will significantly change
@a6 Dan, Dan teh layoff man ...no one can hire...but I still can! (Bringing in his PayPal buddies)
@a7 Probably (especially if you are in engineering or software dvelopment) becuase they just brought in more HB1 visa engineers from India and half the salary cost.
@a7 Because the CEO, who used to make 5 million a year (as if that wasn't more than enough already) now makes 25 million a year. AKA Late stage capitalism.
Told by a friend at a high level up to 25% of managent is the number. Union employees are safe. So it's probably management having to rank management under them.
@a7 because "trickle down" is horse isht? 50
The list has already been completed and approved. Org structures are being worked on now.
Fake news..
Not true, not happening , y’all just posting to scare
Fake news...there are not managers at Verizon....we have Supervisors, AD and a bunch of titles beyond that
Yet no mention of what orgs….
Why did i make more money at verizon 20 years ago than i do today?
Dan Dan The Hatchet Man …
@a4 I believe you, my director’s, director’s, director’s, director told me in an Webex meeting.
When I posted about the lists yesterday.. you guys did not believe me and called me spreading fear.
@a1 I can confirm, director’s, directors told me
I can confirm. Directors asked to give names