Thread regarding Sprint layoffs

I got my "pound of flesh" from Sprint

More than 30 years with Sprint Business; joined back in the GTE-Sprint days AND got a pension (two actually; one with GTE and one with Sprint). Read that again: I GOT A PENSION from Sprint! Yeah. And they contributed dollar:dollar much of the time too. Built a nice nest egg. Then in 2005 they shut down the pension; new employees don't get one, and us legacy-types would no longer get a company contribution.

That was a breach of trust I choose to fight.

How? By getting my "pound of flesh" - after all I gave them mine!

In 2005 I opted for a "voluntary separation plan" (VSP), left the company, and they paid me for nearly a year at my $100K+ annual earnings. Nice.

Then in 2010 they hired me back!

And, in 2014 I took a SECOND VSP! And again they paid me at 100% of plan for more than a year at this point (2 weeks per year of service plus some bonus weeks 'cause they like me so much!)

All in all, a great career; and a great stock back in the day when it mattered to me. Check the stock price from 1985 through 2000 - 15 years of awesomeness.

Now? Not so much.

End of an era (and soon, end of an error).

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| 2513 views | | 1 reply (January 29, 2016) | Reply
Post ID: @OP+FGiaEGU

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Glad it worked out for you two times - also an ex GTE/Sprint employee with a pension. Laid off in 2014 just finishing up severance pay. ESOP worthless right now. Hoping stock picks up so I can sell some of these worthless shares.

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