Made a mistake not opting for VSP last year… now I am stuck with 25 years and not getting riffed… if they don’t offer VSP soon, I may be forced to just resign with no severance package… call me lucky or privileged, but am looking for suggestions
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Severance is a tool to mitigate against legal action… it will always be there. Chances are it will become MUCH less generous going forward. Your Telecom is now run by a tech bro…this is the way
Just look for another job and leave. You'll still get your vacation paid out.
Don't be surprised if the next RIF isn't the standard package. I've heard VZ is going to look to only payout what is required by law.
you are losing money waiting and hoping for a riff
you can make more in a new place than the riff pays
every year you wait is an opportunity lost
go look for something new now
Let your manager know you'd be interested in being tapped for the next RIF. You have nothing to lose if you want to leave anyway. At least you go with some $.
The VSP wasn't just a Hans thing. Seidenberg had a huge buyout in 2003 that included both craft and management.
Think the other way around you are better off. I told HR at last VSP that the package is not attractive. It was just 25 weeks more pay than rif for your case. You have earned 50+ mote weeks by not taking VSP and wait to next RIF noe
@c1 Plus 6 personal days. S
@a5 You didn't hear anything
@a9 you forgot 6 weeks of vacation. Oh the horror.
it was so a bunch of mid level managers could get camera time and feel useful.
@a6 - "VSP was a Han's thing with his European background."
That's not correct. Hans was relegated to the back bench and is not in a position of power any longer. The Verizon Board of Directors, including the new CEO, authorized the Voluntary Severance Package. These types of VSPs have been used in the Telecom Industry for decades, and Verizon is simply following that playbook.
Hopeful a VSP is offered
Why not let your management know that you are open to a layoff? With 25 years seniority, you are making relatively high salary and unless you're completely indispensable, they would likely accommodate you. If you're ready to leave anyway, then there's really nothing to lose. They can't fire you for cause as long as you're still performing.
The VSP package was a Hans thing. Layoffs are cheaper.
That would be terrible!!! 25+ at VZ - with health insurance, 401k march at 6% (most companies match is at 3%), change for a bonus ( although, - it would not be guaranteed in the coming years). Horrible. Hope they grant you that wish
@a6 Yes it was a Hans thing. Dan will nix the VSP program and just RIF going forward.
@OP A new sheriff is in town. The days of VSP are over. The new CEO is going scorched earth to cut costs and expenses. Also wouldn’t be surprised if future STI was reduced to 50% or temporarily halted altogether as well as much larger employee cost burden for benefits.
VSP was a Han's thing with his European background. I do not think there will be VSP any more. It was a very respectful way of reducing head accounts. It is not a typical US thing.
Let your manager know you want to be on the list. Managers maintain the list all the time.
I’m hearing there will be another layoff in March 2026. Tell your manager that you would like to volunteer as tribute in the Verizon hunger games
Unlikely that a VSP will be coming anytime soon, if ever. The last two VSP offers were about 5 years apart under a different ceo. Why offer a VSP when they can get rid of employees with a rif?
Why exactly are you looking to move on from Verizon?
Your story requires a bit more context if you're looking for meaningful advice.