Buyouts?

Discussion in 'FedEx Discussions' started by MrFedEx, Jun 20, 2012.

  1. MrFedEx

    MrFedEx Engorged Member

    I think not. Please note that layoffs (possible..lol) have been mentioned in print, but not any confirmation of buyouts. I have heard that any "buyouts" will be for salaried employees, not hourlies. From what I've seen in my district, this makes sense because the most seniors with the most tenure are mysteriously being assigned to the stations most likely to disappear in the Fall ( leases not being renewed).

    While I cannot confirm it, the idea of buyouts is being floated to avoid both panic, and a mass exodus of couriers. Would you stick around if you knew you weren't going to have a job in October? Probably not, and Fred wants to keep you hoping. Think about it. We are not union, so there is no contract. We are "at-will" employees who can be let go for any reason at any time, which is exactly what Freddie wants. Do you think he is going to part with one penny he doesn't have to? He will layoff, cutback, and do everything else first, before he does an hourly buyout.

    Senior couriers who are topped-out? Fred can cut their hours back to minimums and make the job even more miserable by OLCCing everything, which has been the exact pattern from management lately. They want to get rid of anyone they can by whatever means necessary. If you're over 40, so much the better.

    Here's one thing I do know, and that is the fact that ops managers are being kept out of the information loop. They know nothing, which shouldn't be surprising to anyone. Most ops managers are barely qualified to manage a Burger King, much less an Express station. The seniors know, and they aren't telling.

    Remind yourself. Who is the cheapest weasel you know, and how do you think he will handle the "restructuring"? Whose interests does he have in mind, yours, or his and the stockholders? Anything he pays you comes out of his 10% profit target for Express, doesn't it? Expect nothing, and start looking for a new job now.
     
  2. vantexan

    vantexan Well-Known Member

    But if they specifically target older employees aren't they setting themselves up for a massive age discrimination suit? I know we hear about this older courier this, this older courier that, but it's a different ballgame to announce to the world a major restructuring and suddenly most of the employees targeted are the highest paid older couriers. No court is going to believe it's just coincidence.

    Fred Smith, talking about raises a couple of years ago, said they'd take care of the people who've stuck with them. That was in a meeting with Wall Street I believe. What a PR debacle if everyone saw him stick it to thousands of older couriers who've been with FedEx for decades.

    I may not qualify, but I think FedEx will offer some kind of financial incentive to leave for hourly employees who meet a minimum criteria. It may be the bare minimum, but then they probably figure only a small amount of couriers will leave in this economy, and the ones who do are looking for anything that'll justify their leaving. So why offer a huge amount? But remember, by taking away the traditional pension, FedEx forced everyone to help out with the cost of this buyout. So it could be something reasonable. If it's a reasonable lump sum, plus the portable pension plan amount with the traditional pension kicking in later, I'm gone if I qualify. If it's getting to take your traditional pension early I'm gone, especially if it's the full pension. If I have to wait until 55, I may stick it out on minimums until 60 for the full pension. Whatever would bug them the most for not letting me take it early. Take full advantage of the healthcare plan. Dental and vision too.
     
  3. TUT

    TUT Well-Known Member

    How's the new website coming?
     
  4. 55+

    55+ Member

    Mass exodus? Nah..where is everyone going to go in this economy?..Don't think any couriers will get laid off either...Not sure about a buyout. I was hoping Fred would want to get to that 10% margin quicker than he is moving right now but it looks like it's going to be a "multyear" effort which means hiring freeze and consolidation of stations..Dang
     
  5. thedownhillEXPRESS

    thedownhillEXPRESS Well-Known Member

    Its looking more like layoffs.
    Fred is going to have a distracted media this fall (presidential election).
    If a large layoff is announced and receives scrutiny, he can lay blame on Obama.
    Face it , 50% of the country will praise him as a hero, fox news will give him all the time he wants to explain his side.
    Its looking like a perfect storm to nearly eliminate express.....
    I'm not saying he's trying to sway the election, but it sure is a perfect time to pull off "the big switch"
     
  6. Goldilocks

    Goldilocks Well-Known Member

    I dont think Couriers will be loosing their jobs. Now, you may have to work longer hours or different shifts but no way is Express going under. Hope I dont have to eat my words.
     
  7. thedownhillEXPRESS

    thedownhillEXPRESS Well-Known Member

    Not under.
    However,from what I can see, there should be a 50% reduction in Express full-time emoyees by the end of Fy 2013.
    I can't imagine hitting that number without a layoff.
    And for P.R. purposes , one heck of a sob story.
     
  8. vantexan

    vantexan Well-Known Member

    But where are you seeing that? And they'd have to layoff the least senior, which isn't the goal. There will still be plenty of overnight freight and 2 Day for awhile. Express Saver won't take that much but it will help eliminate OT.
     
  9. whenIgetthere

    whenIgetthere Well-Known Member

    I don't see layoffs, either. I think that paper trail they have on each and every one of us will be their M.O. I can see a time in the very near future where a late, an overlook, a missed POD, or an accident will be automatic dismissal. Of course, they would have to find a way legally to do so since that has never been the standard! BUT, they will find a way to do it. My wife is an RN, and I swear they don't have to reach the level of perfection as we do now. Difference being she makes more than twice what I make per hour!
     
  10. vantexan

    vantexan Well-Known Member

    Does your wife know any single nurses? I may need a wife soon that makes that much!
     
  11. whenIgetthere

    whenIgetthere Well-Known Member

    To make matters worse, I had a new customer move onto my route last month. They asked to see a sales person to discuss Priority and SOS services and discounts. The other day, the shipping manager came over to me and told me the sales person was in the previous day, and was pushing Ground only. Sad that it took sales a month to get there. They told him they wanted P1 and SOS, but he wouldn't give them a discount for express, only ground. So now UPS is getting their 50 overnights per day now! Way to go sales!
     
  12. 55+

    55+ Member

    I dont see layoffs either..doesn't make sense..but then again when have they ever done anything that does make sense..:nobrainzombis:
     
  13. thedownhillEXPRESS

    thedownhillEXPRESS Well-Known Member

     
  14. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    It makes sense to push Ground, especially with their time in transit advantage over UPS.
     
  15. Ricochet1a

    Ricochet1a New Member

    I think this is the first time I can say Vantexan is right on the button with his assessment of things...
     
  16. Ricochet1a

    Ricochet1a New Member

    I hope "TUT" has time to read this - he doesn't seem to be able to connect the dots too well.
     
  17. bbsam

    bbsam Moderator Staff Member

    Hey! The narrative here is Ground sucks! Now stay on message.
     
  18. vantexan

    vantexan Well-Known Member

    :proudmom:
     
  19. TUT

    TUT Well-Known Member

    I highly doubt that. I'll make a call to my sales rep, any company can get 40% off Express and work towards 50-60%. Ground is way less discounted. But I'll ask them to colaborate. I haven't recd any indication from my sales rep that Express isn't wanted nor will they no longer deal. lol
     
  20. TUT

    TUT Well-Known Member

    I'll be calling in the morning, I'll report back. Perhaps you guys are making up dots, no?