My Manager and I were both told today in advance that we, along with many others, will be getting our 60 day notice on 8/23.
16 replies (most recent on top)
To the above post......Same here. Word is getting out. They are sneaky. Wave 1 last day 10/31, wave 2 last day 12/31, wave 3 last day 3/31. -------- Not sneaky. Everyone who requested VSP knew the dates... This is nowhere near Sneaky... Sneaky is the old days when you came in on a Friday morning of payday and your badge didn't work.. then you were taken to the little door off the lobby before the second set of doors you scanned through and were told you no longer had a job. Someone then came and boxed up your stuff while you waited and that was it. Sneaky was when they would walk through the center and grab teams of people and take them to big conference rooms and lay them all off at once. Sneaky is when all the sudden there are no supervisors on the floor and you find out that 1/2 of them now no longer work for the company and have 20 mins to pack and go. We lived through this nightmare for 15 years..... While RIF and VPS ( remember... they offer, and you ASK FOR IT) are still sad events... You get a package and an out date instead of... as of today you don't have a job.
Did this happen?
Most states will pay unemployment if the severance is provided in a lump sum (like ours is). When it is split up and paid over time is when you need to wait to apply for unemployment until the payments have all completed.
Thanks for the info. This is what I found for my state, You must report any severance pay to TWC when you apply for benefits...... Under Texas law, you cannot receive benefits while you are receiving certain types of severance pay. We will mail you a decision on whether your severance pay affects your unemployment benefits.
Immediate unemployment is available in NJ. Good point below - Google for your state.
I think unemployment wouldn't kick in (for some states) until after the term of your severance -- after 35 weeks have gone by, in the case stated below. We'll need to check in with our individual states on that piece to be certain.
Shouldn’t be a surprise. Thus is the standard practice for Indian companies that acquire US based assets. Remember when you train your replacements to leave gaps in the knowledge transfer. It’s very hard to fire with cause based on a training omission. Since no one except trainers have this in their job description. Verizon has been sc--wing their employees since NCI acquisition.
The HCL severance package in our offer letter states that we get no less than the “Verizon Severance Package when we were rebadged” if we are laid off in the first 2 years there.
The Verizon Severance Package is 2 weeks pay for every year service (35 weeks max). You also have covered medical, dental and vision benefits for the same time frame (35 weeks max). The formula used to determine your severance is the sum of your annual base salary + your STI divided by 52 and then multiplied by 35.
You also get your HCL retention bonus, pro rated STI, pro rated LTI (old stock together) and a check for all of your unused vacation. Lastly, 6 months unemployment.
Does anyone know what the Vz standard severance package was? The max weeks and does it include medical for that time frame?
There is not VSP-like option for HCL rebadged. It will be the standard.
Praying for the VSP offer too. The dates do line up. To just dump us over here and then RIF us with the standard package would really be such a slap in the face.
This seems to track with what's happening on the Verizon side as they just notified those selected for VSP and provided their off boarding dates earlier this week. I wonder will we get the comparable VSP package or will will get the standard package. This has just been a horrible experience from day 1. I have never felt so disconnected from a job/company. I hope we can volunteer to to be let go, I will be happily to take the money and never look back at either company.
I am the OP and in the USA. Not sure about PH.
Is this for Verizon Rebadge in PH????
8/23: the same day they're promising the raises will be announced. smh
Same here. Word is getting out. They are sneaky. Wave 1 last day 10/31, wave 2 last day 12/31, wave 3 last day 3/31. We heard everyone is getting notified next week. Lastly there will be options to keep a job similar to yours for lesser pay and benefits to some.