Can anyone elaborate on this new VRP I keep reading about. Like Is it for non union only etc.
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VRP is 3 weeks per COMPLETED years of service and paid out bi weekly on the regular pay cycle. I know guys that took the VRP when it was rolled out in 2016/17 and I know guys who were severanced out during that time that didn’t take the VRP. The ones who were let go with a severance pkg received two weeks pay for every completed year of service. Altice is basically revisiting what they did after acquiring SL and CV. They don’t know how to produce a profit by running a cable operation so they revert to the most basic idea and that is to cut employees and we all have seen how well that has worked over the last 7 years. PD still hasn’t learned you cannot run a cable operation in the USA the way you do in Europe, and from what I have seen over the past seven years he will never learn that.
VRP payments include 22% federal tax withholding. All online searches state a 22% deduction is the norm for a lump sum payment but not when the payments are spread out over a period of time (3 weeks for every year served, paid bi-weekly on cycle). Online searches indicate that separation or severance pay, when paid out bi-weekly, is taxed as the payments were while still employed by Altice. Does anyone have any input on this? Legal/not legal?
Funny you at will guys talk alot of $hit.." give me a vrp and im outta here"! See how long that cash lasts you especially when you will be spitting up thousands for health care. And what if you dont land another gig right away?
F the union!
Sux to be a union guy ... !! See ya ...!!
Are you suggesting the unions only care about getting their dues? Say it isn’t so, I thought they cared about us as workers!
If senior guys leave thats more money in dues the unions loose.
Why doesn’t the union just get out of the way and stop delaying the VRP offer for the union shops? The guys that will leave are the ones that didn’t want you here in the first place. And if you were really concerned about your memberships well being, you would recognize that senior guys leaving, makes room for Jr. guys to move up. But I guess the unions are more concerned with losing dues than they are your career progression. Here’s the real deal, neither side cares about the worker, you are still on your own. It’s a two front battle now.
A bridge 😂👍
I'm taking it this time
If your over 60, been with company for over 30 years, and been socking your money into 401k and have had cash balance plan for many years, what are you waiting for. Are you waiting for them to show you the door, leave collect, and go!
Free medical, free cable, and free money!
not union eligible unless negociated
if you believe this VRP offer, I have a bridge to sell you.
Its 3 weeks NOT 4. Please dont spread false rumors. The same offer and terms as the last one. Its something to consider carefully
If you didn’t get the VRP e-mail the VRP concerns you more since you will be the one left doing the work.
You should be getting information on who is eligible to leave and start preparing.
Maybe the company will hire some more contractors to help out.
Yes it will be with 4 weeks pay for every year you were there
Yup, make it simple if you didn't get the email explaining doesn't concern you.
Take the VRP it's time