early retirement buyout...what is the latest rumor?

Discussion in 'The Archives' started by whispers4me, Nov 28, 2002.

  1. whispers4me

    whispers4me Guest

    9/02 rumor went by the wayside. 2/03 a possibility?
  2. peacock71

    peacock71 Guest

    I don't think an ERO is in the works. There are many retirements already scheduled over the next two years. District and region consolidations may result in some kind of severance being offered to those directly affected. Other than that, UPS needs all the good help we can get. There may be some limited 'dead wood' in some areas, but that tends to stay put when an ERO occurs becuase they are already 'retired.' Increasing the retirement age to 57 or more is a distinct possibility, just based on actuarials.

    Go UPS!
  3. proups

    proups Guest

    In 1995 we saw a lot of good management leave. I would bet that UPS learned a lesson from that early retirement.
  4. johnny_b

    johnny_b Guest

    I really don't see that happening at all. UPS is probably going to face a labour, including management, shortage soon from retiring baby boomers. I am looking forward to it because you all are greedy stinky farts who don't do a very good job and I want your job.
  5. wkmac

    wkmac Guest

    You know Johnny B that's a pretty bold claim to assume that you have smellier farts than the rest of us![​IMG]
  6. upsdawg

    upsdawg Guest

    Rumormongers!!!I also heard of an early retirement scenario in California. It started with raising the retirement age from 55 to 57 so the offer would only go to people who are currently> 51 years old-----I am assuming that there would be another side to it like 20 years of service ore something-----but in Sept I heard that it was going to be a Golden 80 buyout.

    Should I assume that it is going to be availible to people 51 or over with 29+ years??? I would think that there would be very few that would meet this criteria.........???

    Rumors from the land of fruits and nuts!!
  7. upsdawg

    upsdawg Guest

    I have not heard anything for awhile--but than right after peak I started hearing it again!

    I heard that UPS has had hired an investment company to look at a couple of retirement options and is deciding on which one to offer in the near future.Is there a plan to reduce the number of management people---and once they leave they will not be replaced----or if they are it will be by someone who is paid a lot less!!!

    What have you heard????
  8. peacock71

    peacock71 Guest

    I would rather hear about what strategy UPS has to attact and retain the best minds in the Transportation and Logistics area. That said, UPS, like any other organization, should be looking at ways to lower the management/hourly ratio, increase the productivity of specialists (esp corporate and IT), and provide some much needed upward career mobility for high performers.
    If that means clearing the forest of dead wood so be it...

    Go UPS!
  9. tired

    tired Guest

    Surely some one out there has some reliable info on this retirement rumor! I want out!!!!!!!!
  10. thedrooler

    thedrooler Guest

    The retirement age has been changed to 92. Or you can get out at a combination age/years of service of 101. Feel better now? Good.

  11. proups

    proups Guest

    The only thing I hear about early retirement for management is that it ain't gonna happen!

    UPS is already in the management reduction mode. They are not replacing sups/mgrs that are leaving in some cases.
  12. wkmac

    wkmac Guest

    ROTFFLMAO @ Drooler.

    You kill me man! If we ever meet, we're going drinking and I'm buying![​IMG][​IMG]

    Yep, I mean some HEAVY drinking!
  13. peacock71

    peacock71 Guest

    Jim Casey wanted to retire early but his mother said he had to stay until he got it right!

    I'd like to see an early retirement offer so I could turn it down....

    Go UPS!
  14. rushfan

    rushfan Guest

    This has nothing to do with early retirement posting, but this is what the "Seniorist" driver in our center told me.

    You know it's time to retire when 30 somethings come up and say, " I remember you delivered to our house when I was 6 years old."

    When this guy retires, it will be like the movie "Mr. Holland's Opus". We'll have to rent a gym and have a big send off party.
    I have learned much from this "senior" driver. If anyone here is a "young" driver, talk to the "senior" drivers. They have alot of information.
  15. brownblood

    brownblood Guest

    New year with moves in mgt to inspire attrition. No news on retirement pkgs...yet. I guess this doesn't affect the hourly ranks.
  16. thedrooler

    thedrooler Guest


    You can buy the 1st one. I'll buy the 2nd one and maybe we can get vipergirl to buy the next one. Happy New Year!

  17. peacock71

    peacock71 Guest

    I think the enonomy is going into a mild recovery, and companies will spend $$$ on improving supply chains. UPS is in best position to profit and will need all hands to make it go. No ERO, but lots of new fun.

    Go UPS!
  18. dannyboy

    dannyboy Guest

    On a private note, One of our delivery sups underwent emergency open heart last week and had a quadruple done. He was in such bad shape that they really wanted to wait, but then got very critical, so they had to go with it. Names Gary (dont know if it is proper to post real last names so...) just turned 50. If you all would be so kind as to remember him in your prayers.

    I first had him as a loader. Then nurtured him as a driver for 18 months or so. And lastly worked for/with him as driver sup for about 6 years. IMHO Gary is the best of the best.