All of you who were against VSPP'S can now watch people who don't want to leave lose their jobs. Congratulations
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Voluntary separation program vs. involuntary
It's going to be tough for Lumen to survive. Declining revenues, $20 billion in debt, interest rates on the rise and a recession just around the corner. How is all of that resolved? A reset via bankruptcy?
I have mixed feelings about the company. There are (or at least were) many talented employees who poured their heart into the company for decades. There is a top-tier fiber network which many big name companies and the federal government utilize. The senior management, now and in decades past, never could figure out how to grow revenue. The company is owned by the bond holders. The shareholders (based on market cap only own 10-15%) of the company. The writing is on the wall, a leveraged buyout is the only thing that makes sense. If you think about it, the annual interest payment is higher than all employee expense.
What? You just posted something that makes no sense. A high senior employee chooses to stay and a low senior/ newbie is forced out. Right now, high senior employees are looking for a package to leave. If a force reduction is coming and IF there are high seniors who want to stay; well they have that right. But it would be lunacy if they pass up a package and a chance to plant themselves at another company. Start new (with a CTL package in the bank). Also, don't hate the seniors. They're still here and packages are still coming around. They are not d-mb and they are not pressured to leave. First at vacation canvassing, first at yard relocation, first with tour selection, etc. They earned the right as they have been here longer. It's upsetting that any cuts are made but it's not personal. Some may want to hear the violin play as the back part of the ship sinks. .. Be the ones to turn off the lights on their way out.
What's ISPP?
Doesn’t work like that. In an artificial article 19 declaration a VSPP is offered and then again after 80 days before ISPP