All Directors are being briefed on the Management Buyout by Finance at 9 AM ET tomorrow (Friday). Employee communications will take place tomorrow afternoon. Details are as follows:
All non-union Verizon Wireline employees are eligible
3 weeks for every year service (capped at 60 weeks)
60 weeks of Cobra (free medical/dental/vision)
The company "will" allow unemployment benefits
Unused vacation time will be paid
STI awards will be paid
Stock awards will be honored (more)
Inside
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I wonder if this will effect Wireless Corporate (non-retail) employees as well. Does anyone know? It would make sense either way, no bad press for VZ, get rid of employees that have been around forever (even if we did pour everything...... (more)
Frizz
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This offer may not be the greatest, but this is a strong sign of a future sale of the wireline assets. Employee headcount reductio...... (more)
Wake
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Heard similar that it’s 30 day severance after. And yes that they want to unload headcount to sell wireline. I also believe that was a reason the company...... (more)
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All non-union Verizon Wireline employees are eligible
3 weeks for every year service (capped at 60 weeks)
60 weeks of Cobra (free medical/dental/vision)
The company "will" allow unemployment benefits
Unused vacation time will be paid
STI awards will be paid
Stock awards will be honored