Taking the package - the lesser of two evils - post regarding Verizon Communications Inc. layoffs

Taking the package - the lesser of two evils

I agree that for those in their early 50s, this is a tough choice. Especially when there is still a mortgage and/or kids in school. I really do believe that no job will be safe in the future and I can see Vz outsourcing even more than IT. They can survive without most of us by using contractors and offshoring. Don't kid yourself. IT used to be a really good field to be in. Today I would not advise any kid to go into that field. But even those outside of IT are no longer safe. I'm at the other end of my 50s with an almost paid off mortgage and kids out of school. I was aggressive with the 401k over the years and have many years with the company. I had planned to work for a few more years, but I don't think I could take the stress of worrying if I'll get tagged in the next RIF anymore. I am positioned well, so it's time for me to go. It was a good run while it lasted. I wish you all the best

This was posted on another thread ( @VDSpRYR-nfb ). The OP has a point. VZ, as we know it, will cease to exist, as we can expect more reorgs an outsourcing in the future. Taking the package at least eliminates the element of uncertainty, and for me, it definitely means choosing the lesser of two evils

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@kjy #of years of service only goes into the actual severance calculation to determine the # of weeks you are eligible for Your STI award is not based on years of service. If you go off payroll in December or March or June, you will get your 2018 STI at 100% target. If you go off payroll in March or June you will also get a prorated (13 payperiods) 2019 STI at 100% target when your actual severance is paid. The full target is included in the severance calculation either way and would be the same if you go in December or next year since neither your salary or target % would change.

Everyone will make the best decision based on their own situation. In the group I work with a few will take the package most are staying.

11/10

When is the date you have to make decision?

@VFbQUyr-pjg depending on how many years in right now, you may be getting 2 STI's with this package already. For example, if you have 18 years in (times 3 = 54 weeks) . Your offer includes 2 STIs. Now lets say you have 11 years in and they say you date is 6/28/19. You would get 2018 STI @100% , then half (because you worked half a year) of 2019 STI @ 100%.

I have a question regarding leave pay and 2019 part STI payment if i decided to take the severance offer. So if my request for severance is accepted and if my last day per Verizon's happens to be 03/31 or 06/30, would i get part 2019 STI as well as any unused vacations?

Take the money and run ! Hearing an offer for outside coming soon also . They want to slice and dice now so anyone with any sort of time should be ready .

I just turned 40 this year. Mortgage will be paid off early next year. Decided to take the package. Not sure if they will accept me, but I think applying is the best play regardless if they accept or not.

At this point I could sustain myself with just 50k a year, so leaving now prevents future headache of worrying about the job and long working hours.

Life is too short to put up with this hanging over my head.

Thread regarding Verizon Communications Inc. layoffs

Taking the package - the lesser of two evils

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