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UPS vs. Fed-Ex
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<blockquote data-quote="MrFedEx" data-source="post: 464859" data-attributes="member: 12508"><p>Here are several reasons FedEx Express has not had any layoffs;</p><p> </p><p>1. They just eliminated our traditional pension plan as of June 1, 2008, saving them hundreds of millions of dollars, and about 10% of our total compensation pkg. We basically no longer have a true retirement plan.</p><p> </p><p>2. Front-line management just took a 5% <em>permanent</em> pay cut and had their MBO bonuses eliminated. Upper management took 10%,and Fred took 20%. Largely meaningless to the big-buck execs, but a big deal to us.</p><p> </p><p>3. The 401k company match has been eliminated. If you figure in a small 1-2% rate of return in this crappy economy, that translates to another 5% lost in our compensation including the FedEx match. That would be a 15% total in give-backs in just the last year.</p><p> </p><p>4. Depending on the area, hours have been slashed, and the company is actively stepping-up the disciplinary process in order to get rid of more people. Think Genghis Khan times two.</p><p> </p><p>5. Stepping-up productivity expectations into the realm of the impossible, meaning that a lot of couriers work through their breaks and falsify on their PowerPads (DIAD clone) in order to just get it done and keep their job. All by design, and totally unethical.</p><p> </p><p>6. Eliminating flights and replacing them with truck routes, which are largely contracted-out to save money and keep FedEx tractor-trailer drivers in the poorhouse.</p><p> </p><p>I'm sure there's more on the way...</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 464859, member: 12508"] Here are several reasons FedEx Express has not had any layoffs; 1. They just eliminated our traditional pension plan as of June 1, 2008, saving them hundreds of millions of dollars, and about 10% of our total compensation pkg. We basically no longer have a true retirement plan. 2. Front-line management just took a 5% [I]permanent[/I] pay cut and had their MBO bonuses eliminated. Upper management took 10%,and Fred took 20%. Largely meaningless to the big-buck execs, but a big deal to us. 3. The 401k company match has been eliminated. If you figure in a small 1-2% rate of return in this crappy economy, that translates to another 5% lost in our compensation including the FedEx match. That would be a 15% total in give-backs in just the last year. 4. Depending on the area, hours have been slashed, and the company is actively stepping-up the disciplinary process in order to get rid of more people. Think Genghis Khan times two. 5. Stepping-up productivity expectations into the realm of the impossible, meaning that a lot of couriers work through their breaks and falsify on their PowerPads (DIAD clone) in order to just get it done and keep their job. All by design, and totally unethical. 6. Eliminating flights and replacing them with truck routes, which are largely contracted-out to save money and keep FedEx tractor-trailer drivers in the poorhouse. I'm sure there's more on the way... [/QUOTE]
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