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Verizon says to shed 10,400 jobs by mid next year

reuters.com

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Re: Verizon says to shed 10,400 jobs by mid next year

#41

Post by C1sc0cat »

firebird84 wrote: post #5
TAForObvReasons wrote: post #3

They aren't laying off people, it was a voluntary separation: > Verizon Communications Inc said on Monday that about 10,400 employees will be leaving the U.S. wireless carrier by mid next year as part of the company’s voluntary separation program. They offered a package earlier in the year https://www.cnbc.com/2018/09/25/verizon-offers-separation-pl...

It sounds like they were offered that in lieu of a less favorable outcome...Also 3 weeks per year of service is in my experience less than standard.

Mine was 14 for BT in the Uk (tax free)

Re: Verizon says to shed 10,400 jobs by mid next year

#42

Post by jhare »

teachrdan wrote: post #22
sct202 wrote: post #10

I read on the Layoff they had about 11.4k applicants, and 90% of them were accepted. Looks like the first wave is out starting Dec 28th. With such a large cut it would be weird to be rejected, I would feel an awkward mix of jealousy and loss to go back to work afterwards.

Wouldn't it be a compliment of sorts to be determined too valuable to be let go?

I've been there, it's not really a good feeling since the remaining pressure can be burdensome depending on how much your company cuts.

"You're too valuable to let go! Best yet is you don't have all those pesky coworkers!"

Whatever leftover slop the company feeds you from the remains of your coworkers won't have that satisfying flavor.

Re: Verizon says to shed 10,400 jobs by mid next year

#43

Post by empath75 »

sdinsn wrote: post #15
TAForObvReasons wrote: post #3

They aren't laying off people, it was a voluntary separation: > Verizon Communications Inc said on Monday that about 10,400 employees will be leaving the U.S. wireless carrier by mid next year as part of the company’s voluntary separation program. They offered a package earlier in the year https://www.cnbc.com/2018/09/25/verizon-offers-separation-pl...

"voluntary separation" might as well be lay-offs, because if they didn't get enough volunteers they would have laid people off without giving them a package.

I volunteered for a lay-off when they merged Aol and yahoo because I had recruiters breathing down my neck offering me big raises to leave anyway. I got enough in the severance and signing bonuses to pay off a new car and pay for most of my wife’s masters degree.

Re: Verizon says to shed 10,400 jobs by mid next year

#44

Post by pc86 »

mlthoughts2018 wrote: post #12

At least the described severance benefit might be on the correct order of magnitude to be considered reasonable and not totally and odiously evil, “As part of the separation program, the employees will get a salary of up to 60 weeks, bonus and benefits, depending on the length of their service, Verizon said.” This is why I always advise people to negotiate significance severance benefits up front, on the order of 6 m…

New grads in partner-track roles at client service firms, MBA types, private equity, etc, maybe. 22-year old John Doe getting a job at ERAC with a 2.9 GPA from a state school? Absolutely not.

Some places will certainly negotiate severance, but it's state and industry specific as well as very, very dependent on the position you're moving into.

Re: Verizon says to shed 10,400 jobs by mid next year

#45

Post by C1sc0cat »

Spivak wrote: post #18
reaperducer wrote: post #13

Earlier quoted context omitted.

They aren't laying off people, it was a voluntary separation It's just another layer of corporate double-speak. The same way "fired" became "laid off." Until the early 90's, "laid off" applied to factory and seasonal workers, who were expected to be recalled when production ramped up again.

I don't really think it's doublespeak. Laid off means an employer doesn't want/need your position anymore. Fired means an employer doesn't want you anymore.

No previous commentator is correct "redundancy" is different to "laid off"

Fired means they are dismissing you for cause.

Re: Verizon says to shed 10,400 jobs by mid next year

#46

Post by meritt »

firebird84 wrote: post #5
TAForObvReasons wrote: post #3

They aren't laying off people, it was a voluntary separation: > Verizon Communications Inc said on Monday that about 10,400 employees will be leaving the U.S. wireless carrier by mid next year as part of the company’s voluntary separation program. They offered a package earlier in the year https://www.cnbc.com/2018/09/25/verizon-offers-separation-pl...

It sounds like they were offered that in lieu of a less favorable outcome...Also 3 weeks per year of service is in my experience less than standard.

When Sprint did numerous layoff rounds in 2004-2010, they paid out 2-weeks per year of service and capped it at 52 weeks.

Re: Verizon says to shed 10,400 jobs by mid next year

#47

Post by 2bitencryption »

> The New York-based company has been looking at cutting costs as it ramps up investment in its next generation 5G network, which is expected to fuel growth.

"we're about to grow a ton, better cut 10k jobs to maximize those gains."

that just sounds so... weird to me.

Re: Verizon says to shed 10,400 jobs by mid next year

#49

Post by pc86 »

reaperducer wrote: post #13
TAForObvReasons wrote: post #3

They aren't laying off people, it was a voluntary separation: > Verizon Communications Inc said on Monday that about 10,400 employees will be leaving the U.S. wireless carrier by mid next year as part of the company’s voluntary separation program. They offered a package earlier in the year https://www.cnbc.com/2018/09/25/verizon-offers-separation-pl...

They aren't laying off people, it was a voluntary separation It's just another layer of corporate double-speak. The same way "fired" became "laid off." Until the early 90's, "laid off" applied to factory and seasonal workers, who were expected to be recalled when production ramped up again.

Fired means you were terminated, and can be for cause or for no reason. Laid off means the position was terminated and implicitly means your performance was not a factor. They don't mean the same thing and they're not used interchangeably.

Re: Verizon says to shed 10,400 jobs by mid next year

#50

Post by JustSomeNobody »

TAForObvReasons wrote: post #3

They aren't laying off people, it was a voluntary separation: > Verizon Communications Inc said on Monday that about 10,400 employees will be leaving the U.S. wireless carrier by mid next year as part of the company’s voluntary separation program. They offered a package earlier in the year https://www.cnbc.com/2018/09/25/verizon-offers-separation-pl...

If nobody volunteered, Verizon would start volunteering people. The end result would be similar, so, yeah, it's a layoff.
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