2022 step increase

[Slowturtle]

With inflation 1 or 2 steps or none?? October is around the corner and have heard nothing. I swear this company reminds of those skanky start ups where sheister CEO’s pay themselves first and leave scraps for the rest doing the work… ex. 5 billion dollar share buyback authorized in Dec 2021 on top of a share buyback that went on year’s before.. buybacks do nothing for a company. Except the top tier echelon… tnt fiasco needed saving where’d the money come from? 2 years we didn’t get a raise.. thanks. Fred Junior from 2020… “2021 will be our year” what he meant was it would be his year.. we got micro managed with cameras.. thanks. And it goes on… raises??

 

[JustAnotherAirDriver]

Stock buybacks are sometimes a sign a company doesn't know what to do with excess cash specially in times when the value of that cash is dropping ie. recession. Apple has this issue right now.

 

[zeev]

Stock buybacks reduce shares and are to raise stock price.

 

[Slowturtle]

Stock buybacks reduce shares and are to raise stock price.

Great and what’s that do for us or anyone that doesn’t own shares?

 

[cosis]

2% - and i can hear the managers now saying be lucky you got anything

 

[zeev]

Great and what’s that do for us or anyone that doesn’t own shares?

Absolutely nothing, they are moving to a contractor model, employees will be forced out especially topped out workers.

 

[Slowturtle]

I truly seriously believe this… in the last year I’ve seen so many senior/seasoned employee’s retire/walk…

 

[fdxsux]

They’ll probably just give 1 step. If they are feeling really generous they’ll give 1 step plus a small cola for each step, but I highly doubt it. No chance in hell they’ll ever give 2 steps in one year. You can always count on Fedex to give the least amount they feel is possible.

 

[El Morado Diablo]

I truly seriously believe this… in the last year I’ve seen so many senior/seasoned employee’s retire/walk…

They've reached the point where they don't care about senior/topped out employees. Last year they told us all what a great job we did and they were going to give everyone BUT topped out employees a raise. In a pandemic. I think the only reason they tossed out a 2% bonus at the last minute was because there was a lot of talk about a sick out when the pay actions were supposed to start in Oct.

Since the market levels were consolidated in 2017 topped out employees have had two 2% raises. I get it, they don't want the step increases spreading out but they don't move people up a step every year so what does it matter? They can re-write the steps anytime they want since they aren't under contract. In the meantime, inflation is up 18-20% since 2017. We are sliding backwards at an alarming rate all while FedEx throws more money at new hires and contractors instead of paying the people who've stayed her and kept the ship running as best they can.

 

[Serf]

I used to care about steps and raises. But if it’s 2% 3% or a full step, what does it matter. Inflation is at least 7-9% and your medical will increase. In the words of Adrian to Rocky against Drago; “You can’t win!”

 

[HedleyLamarr]

It cost nearly $100 to fill up my Sprinter the other day. There is no way we are getting a full step; probably just 2%, no nothing wouldn't surprise me either.

 

[MAKAVELI]

It cost nearly $100 to fill up my Sprinter the other day. There is no way we are getting a full step; probably just 2%, no nothing wouldn't surprise me either.

When fuel prices are high they just increase fuel surcharges and actually profit pretty heavily when fuel prices are high. Definitely not an excuse for no or low raises. They'll just say the same thing they always say. " Due to market conditions".

 

[purplelife]

The real question is what aic is going to be this year. Last year is was at 150% for the managers and they only gave one step to employees.
Aic should be known pretty soon while raises we don't hear until August or September usually.
If they do another large bonus to managers id doubt employees get much.

 

[cosis]

They’ll probably just give 1 step. If they are feeling really generous they’ll give 1 step plus a small cola for each step, but I highly doubt it. No chance in hell they’ll ever give 2 steps in one year. You can always count on Fedex to give the least amount they feel is possible.

They can do a lot less than a step and will, especially after giving that step last year

 

[MassWineGuy]

I’ll be shocked if any pay increase happens this year.

 

[MAKAVELI]

I’ll be shocked if any pay increase happens this year.

I think they'll give a step but either a 2% raise or 3% bonus to the top. Too many new hire would leave if they gave no step with record inflation.

 

[MassWineGuy]

You mean a three percent bonus to those topped out?

I agree about a mass exodus if nothing happens. And just at the perfect time.

 

[shartpost]

Some markets at base pay level are going to get bumped to B1 level from what I hear. This would be a 5 percent raise and that's definitely not cutting it.

 

[El Morado Diablo]

Some markets at base pay level are going to get bumped to B1 level from what I hear. This would be a 5 percent raise and that's definitely not cutting it.

While I agree, the only thing about a market level increase is that ALL employees would benefit from it.
That would be better than the stations where they've raised everyone to Step 4 and left everyone else hanging. If you raise everyone to Step 4 at a Base market level you're just admitting that station should be a Base 2 or Base 3 level (which would benefit everyone).

 

[McFeely]

I'm also curious what they'll do with the stations that are getting the temporary premium pay. Right now I am getting one and it's equal to about 2 steps on the progression chart, but I can't see them making that permanent. But losing 30-50% of our drivers in October would be the alternative so...