In the long run Altice will benefit. Otherwise it would foolish to make this offer. But if what I've read in this website is true..... my advice to ALL who have this "opened door" is to GET OUT OF DODGE CITY.
Here's a breakdown on how and why.
Assuming you're earning $30 per hour. Your weekly salary would be $1560, and yearly, $81,120.
IF.... and IF... the offer is ONE CHECK PER 3 YEARS OF SERVICE....
One check = $4680 (3 times $1560).
20 years = $93,600
This "lump check" was NOT earned, as in hourly labor. YOU did NOT put any "labor" for this amount. It's essentially considered as a "gift", more or less. That's why you'll get clobbered with taxes. Almost half. So, get yourself ready for half that amount. It's the tax system that is in place, which Altice has no control of. THANK GOD. Otherwise, Altice will make sure you get "zero."
The current tax rate for social security is 6.2% for the employer and 6.2% for the employee, or 12.4% total. The current rate for Medicare is 1.45% for the employer and 1.45% for the employee, or 2.9% total.
Altice will save $5029.44 from social and $1216.80 for medicare. That's $6246.24 total for the year. Plus, the savings in other "alleged benefits" the company would hand out.
Why should Altice "hold on" to a veteran at $30 per hour, when they can replace the veteran with 2 newbies at $15.00? If a store is offering a two-for-one sale on an item you normally buy, you'd grab it in a heartbeat.
Is there any wonder why "fiber technology" will be taught to newbies ASAP? Future postings will be offered to those who are making the least, so that Altice can get "the most." It's business. It's pathetic. And it makes sense. YOU would do the same in your household.
So, if the offer comes your way... GRAB IT AND RUN. Sure, you'd have to start a new job, a new beginning, with uncertainty. But, aren't YOU living in uncertainty RIGHT NOW? As a veteran, you're wondering.... AM I NEXT TO GO? Without notice? Without warning? Without a heads up?
It's time for full disclosure. I've used the "Anonymous" moniker of Obeeone. For management, whom I have baffled and "ticked off"for so long on this website, I am Randy from the Bronx. I did my time with CABLEVISION for close to 20 years and left BEFORE the debacle. I am retired and living in Puerto Rico. But I warned Bronx techs to get out. I was always against unions because it only benefited a small number of techs who experienced issues that did not affect others. But, Altice decided to reduced EVERY worker's pay by 10% and slash other benefits you've worked hard for. This time.... IT AFFECTED EVERYONE. This time... a union was needed. Of course, the cut in pay was "optional". But, deep down inside, many of you saw it as a threat. Don't comply.... say goodbye. And those you decided on taking the 2% increase... be prepared.... you're next.
You were caught between a rock and a hard place.
You've seen what's happened already. Yet, many of you see it as "opportunity." I guess if they cut your oxygen supply, you'd swear it's for your own good and live longer.
One added recommendation though. On your resume, put down "Cablevision", and NOT "Altice". No one knows who the hell Altice is. Cablevision left a mark in the cable industry. Altice will leave a scar.
I wish all of you Godspeed. Be the best technician, or shall I say "contractor" you can be. And if there are any depots with the chance to vote for having a union, then do so. And the depots that voted against having a union..... well…. YOU'RE DONE.
Good luck my friends. Only wish I had been there to fight the good fight.