Verizon alters exit package for workers it was outsourcing [Seeking Alpha]
Verizon Communications Inc. (VZ)
Last verizon communications inc. earnings: 4/24 07:30 am
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Source: Seeking Alpha
Verizon (NYSE: VZ ) has changed up the exit package for about 1,000 U.S. workers it planned to outsource to Infosys (NASDAQ: INFY ). Those workers had been told they weren't eligible for severance, but now they have the choice of taking the exit package or moving to Infosys with a two-year guarantee of comparable pay and benefits. That's in response to some disappointment from employees that they were being transferred to a new company rather than receiving severance packages comparable to those colleagues received. Verizon recently signed a $700M IT outsourcing deal with Infosys, and decided to rebadge the workers hours before several thousand colleagues got a different buyout offer of three weeks of pay for each year served (up to 60 weeks). After hours: VZ . Previously: Bloomberg: Verizon CEO looks to shake up top ranks in 5G push (Oct. 09 2018) Previously: WSJ: Verizon severance offer goes to quarter of workforce (Oct. 03 2018) Previously:
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VZ
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- 4/22/24 - Beat
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- 4/22/24 - Form 8-K
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- VZ's page on the SEC website