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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

#51

Post by root_axis »

makecheck wrote: post #4
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...

Of course they are. Many, many companies offer a “voluntary first” incentive to avoid the bad press and services they might otherwise have to provide to laid-off people. Jobs went away. Sugar-coating the exact method of ending the jobs doesn’t change that.

Your cynicism seems misplaced; up to a year's salary as severance sounds like a pretty sweet sugar-coating to me. They didn't "avoid bad press", they simply didn't do anything to merit bad press. What's wrong with someone voluntarily choosing to take money in exchange for a resignation? It's not as if there is something inherently wrong with "jobs going away" when your definition includes people voluntarily quitting their job.

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

#53

Post by porpoisely »

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…

I'm pretty sure verizon has a union and their severance is negotiated by the union. At least that's what happened in my first union job. Anyone working for verizon can correct me if I'm wrong.

Also, which companies negotiate severance package before you are even hired? Especially as a new graduate? I've never heard of such thing as a software developer.

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

#54

Post by qaq »

JustSomeNobody wrote: post #40
padseeker wrote: post #30

I'm so glad we passed those corporate tax cuts that created all those jobs and helped provide for all those raises everyone got....

There should be a box on our tax forms for "Adopt a Shareholder" so at the very least we can name the person we want to get our money. Talk about entitlements. These companies seem to think they're entitled to our money.

Here you go those greedy shareholders: Vanguard Group, Inc. 7.26% Blackrock Inc. 6.54% State Street Corporation 3.83% Capital Research Global Investors 2.92% Wellington Management Company, LLP 2.80% oh wait thats actually your retirement money

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

#55

Post by cgriswald »

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.

I don't think it's quite so black-and-white. Often there are multiple such positions and they are being reduced. So your position still exists and they don't want you (or rather, they would prefer to have X number of your coworkers rather than you). I don't think it's synonymous with being fired, but you can smell it from there.

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

#58

Post by mlthoughts2018 »

pc86 wrote: post #44
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.

No, I am specifically talking about junior devs in traditional tech & product companies.

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

#59

Post by mikelward »

2bitencryption wrote: post #47

> 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.

I assume it's just their way of working "5G" buzzword into every press release.

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

#60

Post by jorblumesea »

nafizh wrote: post #57
padseeker wrote: post #30

I'm so glad we passed those corporate tax cuts that created all those jobs and helped provide for all those raises everyone got....

I don't know how many times Republicans have to try these to understand it doesn't work.

They understand completely. These companies pay for their reelection and employ them once they leave politics.
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