Verizon says 10,000 employees have accepted its buyout offer

[ChiGuy2.5]

"The program offered eligible employees and managers up to 60 weeks of salary, bonus and benefits, depending on length of service."

60 WEEKS?!?! I'd take that so fast and never look back! Would you? I know many likely got much less but assuming you're one of the lucky ones.

https://www.cnbc.com/2018/12/10/veri...-business.html

[Arcenal813]

LOL! 60 weeks is insane! I'd take that without thinking twice.

[Sarahsez]

Depends on where you are in life and how fast you can get a new job or retire. Works for some and not others. It took my husband two years to find a permanent job after he was laid off. He's older and makes more money. The younger guys with less experience may get hired faster, but don't have the savings to weather it.

[Hemlock140]

It's " up to 60 weeks of salary, bonus and benefits, depending on length of service" so not that many will be getting that much. Even for them, it's only sensible if the person is fairly close to retirement. Verizon is the biggest carrier, if they are doing layoffs, what are the chances of finding a new job in that industry, with 10,000 others competing?

[Arcenal813]

Originally Posted by Hemlock140

It's " up to 60 weeks of salary, bonus and benefits, depending on length of service" so not that many will be getting that much. Even for them, it's only sensible if the person is fairly close to retirement. Verizon is the biggest carrier, if they are doing layoffs, what are the chances of finding a new job in that industry, with 10,000 others competing?

That's 5 years though. If one can't find a job in 5 years, they are doing something severely wrong.

[flyonpa]

I got 52 weeks of pay when I took my deal, From my old employer two years ago.

Its Weeks of Pay not Months

And its done as a Lump Some, that can hit you hard in taxes.

[Arcenal813]

Originally Posted by flyonpa

I got 52 weeks of pay when I took my deal, From my old employer two years ago.

Its Weeks of Pay not Months

And its done as a Lump Some, that can hit you hard in taxes.

Oops!!!

Okay, yeah I would not be happy with 60 weeks of pay if it meant the loss of my job.

[Electrician4you]

Originally Posted by Arcenal352

That's 5 years though. If one can't find a job in 5 years, they are doing something severely wrong.

SIXTY WEEKS.....WEEKS. Not sixty months

And it counts as income for the year so if you’re borderline to a higher tax bracket...hello dolly.

[Quietude]

Originally Posted by ChiGuy2.5

"The program offered eligible employees and managers up to 60 weeks of salary, bonus and benefits, depending on length of service."

So 50 managers with over ten years tenure get that... and the rest get... what? I hate these job and salary and settlement and offer articles that bite on the BS figures given and are without five minutes of actual investigative reporting to fill in the picture. Most reporting these days is rewriting PR handouts, something that used to be bitterly derided by real reporters.

But then, we didn't used to need "fact checking," either.

[ChiGuy2.5]

Originally Posted by Quietude

So 50 managers with over ten years tenure get that... and the rest get... what? I hate these job and salary and settlement and offer articles that bite on the BS figures given and are without five minutes of actual investigative reporting to fill in the picture. Most reporting these days is rewriting PR handouts, something that used to be bitterly derided by real reporters.

But then, we didn't used to need "fact checking," either.

Well they had to "accept" the buyout so they obviously used a range based on your tenure. Even if it was 30 weeks, I would definitely accept it. I would have no problems finding another job based on my skillset though.

Still 60 weeks is very generous!