"Turkeygate" was announced earlier in the year when we were told there would be no pay raise, no 401K match, no turkey, job reductions and consolidations.
This is done so that uppper management can still "collect" UPS Deferred Compensation Plan money. That plan allows certain managers to participate in the UPS Deferred Compensation Plan if, as of August 25, 2008, you are a region department manager or have equal or greater managerial responsibilities at UPS or one of the UPS authorized subsidiaries, are eligible to participate in the UPS Savings Plan and are not domiciled in Puerto Rico. In addition, non-employee directors of United Parcel Service, Inc. are eligible to participate in the Plan.
Go read the SEC 10K filing to see how "they" have restructured pay so quietly that it is not well known that a manager as described above can defer 35% of their pay to be matched by UPS and after a year almost double the amount. All the facts and figures are in the 10K, just search for "UPS Deferred compensation Plan"