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Where Your Raises Have Gone
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<blockquote data-quote="Ricochet1a" data-source="post: 550317" data-attributes="member: 22880"><p>This is the "official" conversion of the 2% raise and 401K match that has been floating around Memphis for a couple of months now. It was "official" with the internal email that went out I believe Tuesday. </p><p> </p><p>There is going to be NOTHING for this year (pay raises). This hasn't even been announced to the hourly employees yet in most stations. </p><p> </p><p>As Mr FedEx stated, the 2% isn't even a "guarantee". Is was made conditional on a bunch of double talk about the economy improving etc. Even the 2% isn't going to be across the board. It will be made according to performance review scores. I couldn't get confirmation, but it does appear that the top and bottom will move up 2%, and a sliding scale based on performance review will determine how much an employee will get. Speculation (I use that word since my source couldn't confirm it) is that the lowest raise will be 1% and the highest will be 2%, with the performance review scores determining exactly how much between 1 and 2 percent.</p><p> </p><p>Word is that the lobbyists (FDX) in DC are confident that FedEx will retain its RLA classification at this point. This is part of the reason for the putting out of the internal email on Tuesday (think that was the day). </p><p> </p><p>Coincidentally, FDX stock jumped 1.25 a share early in the day, and held that price for the day. This was about a 2.5% increase in the value of a share of stock. UPS stock was up slightly, but not much as a percentage of price. More often than not, UPS and FDX stock prices tend to track each other very closely, since the business of each corporation are practically identical (at the corprate level). This was the market reaction to the belief that FedEx will retain its RLA classification. </p><p> </p><p>If Fred was afraid at this point his status was going to be changed, a decision wouldn't have been made regarding the pay increases at this stage. Doesn't look good for the employees at this stage. By the end of next week, we should know if the Senate will change the classification in the reauthorization bill.</p></blockquote><p></p>
[QUOTE="Ricochet1a, post: 550317, member: 22880"] This is the "official" conversion of the 2% raise and 401K match that has been floating around Memphis for a couple of months now. It was "official" with the internal email that went out I believe Tuesday. There is going to be NOTHING for this year (pay raises). This hasn't even been announced to the hourly employees yet in most stations. As Mr FedEx stated, the 2% isn't even a "guarantee". Is was made conditional on a bunch of double talk about the economy improving etc. Even the 2% isn't going to be across the board. It will be made according to performance review scores. I couldn't get confirmation, but it does appear that the top and bottom will move up 2%, and a sliding scale based on performance review will determine how much an employee will get. Speculation (I use that word since my source couldn't confirm it) is that the lowest raise will be 1% and the highest will be 2%, with the performance review scores determining exactly how much between 1 and 2 percent. Word is that the lobbyists (FDX) in DC are confident that FedEx will retain its RLA classification at this point. This is part of the reason for the putting out of the internal email on Tuesday (think that was the day). Coincidentally, FDX stock jumped 1.25 a share early in the day, and held that price for the day. This was about a 2.5% increase in the value of a share of stock. UPS stock was up slightly, but not much as a percentage of price. More often than not, UPS and FDX stock prices tend to track each other very closely, since the business of each corporation are practically identical (at the corprate level). This was the market reaction to the belief that FedEx will retain its RLA classification. If Fred was afraid at this point his status was going to be changed, a decision wouldn't have been made regarding the pay increases at this stage. Doesn't look good for the employees at this stage. By the end of next week, we should know if the Senate will change the classification in the reauthorization bill. [/QUOTE]
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