So how does that work exactly ? Are you given a choice? Rebadge or quit / rebadge vs leave with severance ? I always thought it was the former, ie- no real choice. How long do you stay employed at new company? what happens after that term ( regarding severance, unemployment etc )
I have always worked under the assumption that getting laid off was better than getting rebadged. Is that accurate ?
You always have a choice. The question is do you get severance if you elect not to accept the rebadge. Here, the company has the upper hand because you are guaranteed at least a year of like salary and benefits (based on the contract they sign), so they don't consider it an involuntary termination if you choose not to take the offer. It's considered voluntary. In 2018 we were fortunate only because the VSP was happening at the same time. Maybe things have changed with subsequent rebadges.
Usually the contract is written to guarantee at least a year, but they could negotiate 2 years as well. If you are terminated from the new company < 1 year you would get Vz severance, otherwise you get the new company severance (if they have one). I say usually because the contract can be different than previous rebadge scenarios.
Everyone impacted needs to weigh their options carefully. Much depends on how close you are to retirement and how much you can afford in medical coverage if not 65 yet or what your realistic employment options are in this job market. The answer won't be the same for everyone. At the very least, assuming no severance, accepting the offer would give you a buffer of another year to look for another job.
I've been there, so I know how it feels. However, I can tell you that I know several people who went to Infosys and are still employed after 5+ years and still working on the Vz contract. I personally chose to leave. Good luck.
I would rather take a severance then rebadge unless the contract is for 3 years or more.
Once you’re rebadged to contracter and they don’t renew your contract; you lose on severance. Complete greed - Verizon should give severance option
Historically most companies consider those that refuse a rebadge as involuntarily separated and thus eligible for severance, vested PTO, etc. But we're in the greediest era, so I wouldn't expect that unless enough retirement-eligible people lawyer up.
Probably VZ has an agreement with the consulting company taking the employees "guaranteeing" at least one year of employment. Probably VZ pays part or all of it. Within that year you'd be training your replacements and then they'd lay you off with their severance terms, usually 2 weeks. Also, probably they expect the typical 60-80 hours consulting companies are known for, that busywork for show nonsense.
VZ should do the right thing by those that don't want to rebadge.