Companies like Target and other national chains have cut out benefits for part timers. In lieu of this, Fedex has mostly a part time work force and has changed there plan to what amounts to more or less a "catastrophic care plan". Instead of cutting you out all together.
Lastly, at least at my station. There is so much seniority. We have over 15 employees with 25 years and 5 with over 30. It's no secret they make more money then the managers! Buy them out, in addition to senior managers. It's a great gesture. The only downside to it is the people left behind. Who will have seen the "old guard" go. Routes get cut, pay scales, eliminated, and 2-3 part timers fill 1 full timers old slot. Like it or not Fedex still overpays you for your unskilled labor. If it were any different, the respected individual would leave and move on if they could.