SRP for 54+ Age Group

Discussion in 'UPS Partners' started by Six Sides, Jan 13, 2010.

  1. Six Sides

    Six Sides Member

    How I see it, managers deserve thanks for all the contributions they have made to the organization over their careers. To give them something extra in their retirement, enjoy the extra cash from the SRP in addition to their pension and benefits.
    Full time supervisors age 54+ retiring this year have a good retirement, sorry not enough cash for a SRP for this group. PS thanks for the money we saved on raises and 401K cut backs.
     
  2. "How I see it, managers deserve thanks for all the contributions they have made to the organization over their careers".

    Thanks, please take this to the "2727 Update Thread"
     
  3. Mainmast

    Mainmast New Member

    Attrition is their answer for the 54 year old supervisor. In otherwards,they are going to make the job so hard on the older supervisor he will quit. See? No EBO,just a high attrition rate for supervisors. Hey 56 year old sup with 25 years, wave goodbye to the center manager as he or she leaves. They could have done a cross the board ebo based on age and years with the company. Very fair.The management left could have filled the holes. BD or operations. Nobody, period, would be faced with losing a job.
     
  4. mather1

    mather1 New Member

    This is 100% true! I am pretty sure that there will be a LOT of stress leave cards played real soon!
     
  5. Dustyroads

    Dustyroads New Member

    I've heard from a pretty reliable source that all of the buyout offers weren't the same. Different grades or levels of management may have received different offers. From what my source indicated, some of the offers are pretty lucrative.
     
    Last edited: Jan 13, 2010
  6. freeloader

    freeloader geek

    I would think the amount of the buyout offer would depend on a few different things such as grade level, department and years of service. Usually the buyout offers are rather generous and lucrative to the employee. There is almost always a catch though. The buyout offer may require the soon to be ex-employee to sign an agreement which covers a whole bunch of details like: ex-employee won't collect unemployment, ex-employee won't sue UPS, ex-employee will not disclose buyout amount, etc. It's probably a CYA measure on UPS's part - give employee some money and sign agreement, avoid potential expensive lawsuit in future.
     
  7. Dustyroads

    Dustyroads New Member

    Freeloader, I think you are on the mark. The numbers sounded pretty big to me, I imagine a lot more may go than most have speculated.
     
  8. ricthered

    ricthered New Member

    I've heard from a very reliable source that one of the division mgrs in my area took the EBO and got his normal retirement + 1 year salary. Not bad.
     
  9. Mr Jingles

    Mr Jingles Rat out of a cage

    Hasta la vista baby
     
  10. brownsugar

    brownsugar Member

    They also have to sign something if they decline the offer - that's how the SVO offered a couple years ago worked.
     
  11. northroad

    northroad New Member

    [
    QUOTE=Mainmast;670466]Attrition is their answer for the 54 year old supervisor. In otherwards,they are going to make the job so hard on the older supervisor he will quit. See? No EBO,just a high attrition rate for supervisors. Hey 56 year old sup with 25 years, wave goodbye to the center manager as he or she leaves. They could have done a cross the board ebo based on age and years with the company. Very fair.The management left could have filled the holes. BD or operations. Nobody, period, would be faced with losing a job.[/QUOTE]
     
  12. northroad

    northroad New Member

    This is very true and the way past good upsers would have done it. But with the outside hiring they don"t understand the way jim would have done it. What a shame to have this happen to good people. But all are just numbers!!!!!!
     
  13. [/QUOTE]

    Northroad, I have seen others do this as well. Quote what someone else says and then make no comment. Is that an error or are you trying to communicate something???
     
  14. Speed Demon

    Speed Demon New Member

    The buyout only went to 1,100 management employees, of which 700 of them are already 55 or older...heard the 50-54 group would lose their healthcare benefits they normally qualify for at 55. In the words of a well-known and now-retired Region Manager by the name of Joe, "that's a bad deal".

    The remaining reductions will come from attrition, specialists, and admins.
     
  15. Braveheart

    Braveheart New Member


    Also a non-compete clause.