Layoff Report

Severance Package Questions - Need Advice!

0x7371…407f

·58d ago·2 comments

Okay, so hypothetically speaking... if there *were* to be layoffs, what's the standard severance package like at Verizon? I've heard conflicting things. Some people say it's one week per year of service, others say it's two. And what about benefits continuation? Anyone have recent experience with this? Specifically curious about healthcare and stock options. This is making it hard to focus, ugh. Any insight (again, hypothetically!) would be super helpful. HR is so tight-lipped about everything.

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Comments (2)

0x22d3…b86a

·58d ago

I went through something similar a few years back (not at Verizon, but a large telecom). Severance packages are rarely "standard" -- they depend on the situation, your role, and how long you've been there. My advice? Start documenting everything. Keep records of performance reviews, any promises made, and emails that might be relevant. Knowledge is power. Also, look into your state's unemployment benefits; knowing what you're entitled to can help you negotiate if the severance is low.

0x7036…5650

·58d ago

Heard some folks in the retail side got hit. The talk was one week per year, capped at 26 weeks, plus outplacement services. Healthcare continuation *might* be an option, but prepare to pay the full premium; COBRA ain't cheap. As for stock options, read your grant agreement *very* carefully. Vesting schedules usually accelerate somewhat during a layoff, but they could also just claw it back. Best of luck, hope you're not impacted.