Verizon fires 10,000 employees

The program offered eligible employees and managers up to 60 weeks of salary, bonus and benefits, depending on length of service. End dates for employees who accepted the deal range from year-end 2018 to June 2019. The program was offered to 44,000 employees across all of Verizon’s business segments.

Better than being employed.


I remember in the 60s GM signed a new labor contract that gave laid off employees two years at 97% pay when they were laid off. Back then it was common to lay off people and then bring them back because of the nature of the business, so they changed lay offs to give workers with seniority first chance to be laid off. Many of them took it. Then the business did not bounce back and those employees became permanently laid off. Be careful what you wish for.

With so much cash upfront, no need to worry about re-employment. Invest the money and make a killing. Btw, the retrenchment deal is getting worse, use to be 1 (may be more, too long ago can’t remember clearly) full month pay for every year you work.

They did not get the cash upfront. They expected to get reemployed at any time, so they got paid every two weeks.

You mean the deal is off if reemployed or you got another job within a specified timeframe?


Not a good deal :-1:

Why take a buy out then?

Don’t. Invest. In. Telcos.

They are losers.

Telecom is the best business nowadays.