FedEx to give employees bonuses, raises, 401k

[dookie stain]

Why
Do you
friend*
Dogs?

Cause In dog years 37 seconds is considered a long porking session

 

[DriveInDriveOut]

Why
Do you
friend*
Dogs?

thats alabama for you

 

[Jkloc420]

so what if they gave everyone 2500 in fedex stock

 

[Non sequitur]

FedEx Committing More Than $3.2 Billion in Wage Increases, Bonuses, Pension Funding and Expanded U.S. Capital Investment Following the Passage of the Tax Cuts and Jobs Act

boom, there u go fedex people

Ok please bypass the multi route owner and give the money directly to the box jockey. Fedex needs to show respect to its abused day labor workforce.

 

[bbsam]

FedeX-Files...

...I want to believe.

 

[bbsam]

#mypresident Donald j trump

You can have him.

 

[bbsam]

Ok please bypass the multi route owner and give the money directly to the box jockey. Fedex needs to show respect to its abused day labor workforce.

Go friend yourself.

 

[bbsam]

Why
Do you
friend*
Dogs?

Because dogs don't file rape charges.

 

[Coldworld]

Property of Fluff.

Post reported.

You’re property of the strike bunker.... get your ass back in there!

 

[Johney]

This does nothing for FedEx Ground though does it?

 

[Non sequitur]

Go friend yourself.

Pork " be inspired "

 

[MassWineGuy]

A little late to the dance.

I don’t know. I’d say April is just perfect timing.

 

[IVE GOTTA PACKAGE 4U]

I don’t know. I’d say April is just perfect timing.

I was joking him about this thread since someone else posted it earlier

 

[DriveInDriveOut]

I don’t know. I’d say April is just perfect timing.

 

[bacha29]

1) Over $200 million in increased compensation, about two-thirds of which will go to hourly team members by advancing 2018 annual pay increases by six months to April 1st from the normal October date. The remainder will fund increases in performance-based incentive plans for salaried personnel.

2) A voluntary contribution of $1.5 billion to the FedEx pension plan to ensure it remains one of the best funded retirement programs in the country.

3) Investing $1.5 billion to significantly expand the FedEx Express Indianapolis hub over the next seven years. The Memphis SuperHub will also be modernized and enlarged in a major program the details of which will be announced later this spring.
Source:
FedEx Committing More Than $3.2 Billion in Wage Increases, Bonuses, Pension Funding and Expanded U.S. Capital Investment Following the Passage of the Tax Cuts and Jobs Act

Let's take a closer look at this thing.

1. Pay raise. All they're doing is front loading you're raise but in doing so they're extending the timeline between raises.

2. Pension contribution: In all likelihood all they're doing is prepaying their future pension obligations for the benefit of future hires much in the same way the USPS is currently doing.

3. Expansion and modernization of hubs. The key here is modernization which likely means more automation and while they do plan to expand the automation they plan to introduce takes the luster off the expansion plans. The end result could mean a net loss of jobs.

4: The takeaway: In keeping with past practice X again gives you one thing and takes it back someplace else. In addition it would appear this action is indeed designed to avoid giving high profile bonus's the hourly X employees in order to avoid putting ground contractor's in a position of having to do the same for their employee drivers thereby keeping Ground's double digit margins in place. You can't help but be impressed by their cleverness.

 

[MassWineGuy]

Good points. But it could also be seen as giving raises six months apart. Still, I don’t want to wait 18 months for the next raise.

 

[brownmonster]

What is $200,000,000 divided by 400,000 employees? A whopping 500 bucks.

 

[MAKAVELI]

This does nothing for FedEx Ground though does it?

It may be a signal for the future of ground.

 

[MAKAVELI]

Title the thread needs to be changed its $200 million in wages.

 

[bacha29]

Good points. But it could also be seen as giving raises six months apart. Still, I don’t want to wait 18 months for the next raise.

Couldn't agree more. The hourly's who burn through cash as fast as they get will run out money of months before the next raise, setting themselves up for failure.