They will be reducing the corporate retail store footprint. Some stores will be converting to indirects. With that being said they will be offering Voluntary VSP’s and then eventually layoffs with severence packages. 100% accurate info. Announcements coming November 19th/20th
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There goes your theory about the company offering vsp. Didn't happen. Hopefully, maybe the first quarter 2026. Please offer it to the frontline.
@c4 it happened. I got laid off today.
Mostly all true expect the vsp isn't for this one, it's the next
Take it or leave it:
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)
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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
Fake news
This is the d-mbest thing Verizon could do. Most complaints are due to indirect stores.
None of that is happening , 100%
VSP next year maybe but Nov 20 is a riff… 1,000% accurate info