Crazy that 20% is a huge number it’s just the first stage of the management layer layoffs .But I hear it’s not even across the board.Some groups will lose less of that whole 20 some will make up a huge percentage.Sounds like the wireless corporate stores are gonna get hit really hard.But if you survive this pre Holiday round you are probably good into the New year .Best of luck .Keep your options open
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@bs 🤣 oh yeah in 6 months Verizon is going to be some dude on the side of the road yelling through a microphone like a street preacher.
No, it’s 20% per month from here on out. Enjoy.
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
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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
@aa thank you Tarzan
Is no RIF. Is needly agile reorganisation.
@a7 nobody likes questions on this site. Just fear fear fear all the time.
@OP according to who?
If you survive the rif next week you are probably good for the next month and a half.. how inspiring