Up To Speed, October 31 What a way to kick off the new decade — with a little more R&R
Verizon’s new 2020 vacation schedule for U.S. based employees will roll out with more additional time-off flexibility for newer employees while rewarding longer tenured employees for their commitment to Verizon.
Let’s take a look at the new policy:
New employees will now start with three weeks of vacation time.
Employees with 3 to 7 years of experience will receive four weeks.
Employees with 8 to 24 years will receive five weeks.
Employees with more than 25 years will receive six weeks.
Unionized employee vacation policy is governed by Collective Bargaining agreements. In addition, Verizon Media employees hired before 2020 retain the ability to grow into 5 weeks at 6 years of service, but will otherwise use the new schedule.
Time off benefits outside the US differ by country dependent on statutory and local market conditions.
This vacation schedule is in addition to our 6 personal days and 8 holidays.
There are some vacation rules that will not be changing. Vacation time will continue to accrue 10% per month from January to October on the 16th of each month.
The maximum amount of vacation that can be accrued at any time remains at 150% of the annual balance. For example, an employee with 4 weeks of vacation cannot exceed 6 weeks at any time.
Vacation time must still be approved by supervisors. To balance business needs, many departments also have guidelines and other qualifications regarding vacation scheduling.
If you have any questions about your schedule, please reach out to your immediate supervisor. You can also reach out to the Benefits Team at: Verizon.Benefits.Team@Verizon.com
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