Sorry if it’s in here, I did take a brief look. Anyone know what determines when VZ uses the 2 weeks per year vs. 3 weeks per year for severance? And what the max is under the 3 weeks per plan? I know the 2 week option is 35 weeks, but unsure about the rest historically.
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The actual policy is available on the intranet. You can search for severance or separation.
Dan isn't the VSP type. You're lucky if the standard two week package continues under this new leadership.
My group wasn’t able to volunteer for the last VSP in ‘24. But, anyone who was RIF’D during that timeframe would receive the enhanced severance. The only catch…you could never work for Verizon again taking the enhanced package. My number was called and wow was I the lucky one to walk away with 64 weeks of pay, plus full bonus for the year and prorated bonus for the next. It was a sweet way to exit this terrible company. 😎 I come back here every once in a while to validate my decision of never being able to work for VZ again and after 2 years, I see I was the winner in leaving with such a nice payout. Sorry for anyone still stuck!
VSP is 3 weeks per, max 60 weeks. Stock Together full vested with 60 days of last on payroll.
BUT - that is just the last one. Any new VSPs could change the math.
3 weeks is the enhanced package and is only available during the "voluntary" offerings... Standard is 2 weeks per, max of 35 weeks. STI prorated. Unsure about Stock Together.