Does anyone recall the details of the VSP offer from a few yrs back? Just curious how that stacks up against the current severance.
Also interesting to see Microsoft's August approach making VSP available if Ur age + YOE > 70. So long, old timers with experience, don't let the door hit u on the way out!
2018 Volunteer Package - 28 year employee
14 months salary
2 years STI paid 100% (combined with salary for lump sump payout)
Health Insurance 14 months n/c
I met the rule of 76, so I could keep VZ Health Insurance beyond the 14 months with an additional 10% administration fee. Or at any time following the initial 14 months a former employee could obtain the Health Insurance one time
Agreement also stated that an employee accepting this package could never apply or seek employment with VZ at any time in the future
After being away from VZ for a couple of months, I then realized how toxic the place is along with the shady managers and never missed it. It does not hit you until you have left and you start thinking about decisions that managers made and how employees were treated. Vile disgusting place to work
My dept in 2018 was offered the enhanced (3 weeks per year). Since then, others have received a mix. I got the final ax in 2024, and got the enhanced option and took it. 51 weeks. Friend of mine in sales just got let go, and got the 2 weeks per yr (standard.)
@OP I was laid off in 2021 after being with VZW for 17 years. We received 2 weeks of pay per years of service.
Don't forget unemployment if you are not VSP.
I'm the OP. I'm asking coz I already got the RIF last year so I can't just look back and find the information myself.
@c0 exactly, and why would I trust this site as a source for such consequential information instead of taking the time to track it down on my own and be certain? 🤡
Why does it matter? Just another useless thread from people that can't do their own homework.
@a7 current severance maxes out at 35 weeks, not 40 weeks.
VSP also included 100%STI for the following year.
And if I recall correctly it was limited to US only, subject to manager approval.
@OP vsp was 3 weeks for each year maxing out at 60 weeks and the current severance is two weeks for each year maxing out at 40 weeks