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An Appeal To UPSer's From FedEx Drivers
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<blockquote data-quote="MrFedEx" data-source="post: 267582" data-attributes="member: 12508"><p>It's clear that "Quadro" doesn't really understand the situation at FedEx, and that his retirement info is just plain wrong. If the new laws governing pensions would "bankrupt" Fedex, how are other prosperous companies continuing to fund their traditional pension plans? I don't see UPS threatening to go out of business unless their employee retirement plans are eliminated.The bottom line is that FedEx took full advantage of the changes in order to reduce the corporation's pension liability and then shifted the bulk of responsibility for funding the new Portable Pension Plan to the employee. Whether you like it or not, FedEx will force you to contribute at least 3% of your pay into the 401k plan. FedEx will also make a contribution, but this new plan is essentially employee-funded, NOT Fedex funded. Just another take-away from a long list of them.</p><p> </p><p>If you did work for FedEx, you would understand this is just one facet of a multi-year plan to de-content the compensation package for hourly employees and pad profits. In a way, I applaud their audacity, because it is finally starting to backfire on them as hourlies and managers leave in droves. Once you start stripping-out the quality of a product or service, you eventually get what you pay for...in this case, unmotivated employees who give poor service to customers and have lousy productivity. All of the recent lawsuits are just the tip of the iceberg as people finally get fed-up with all of the BS and abuse that has been heaped upon them over the last few years. When you don't have representaion, you turn to attorneys, who are starting to smell blood in the water.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 267582, member: 12508"] It's clear that "Quadro" doesn't really understand the situation at FedEx, and that his retirement info is just plain wrong. If the new laws governing pensions would "bankrupt" Fedex, how are other prosperous companies continuing to fund their traditional pension plans? I don't see UPS threatening to go out of business unless their employee retirement plans are eliminated.The bottom line is that FedEx took full advantage of the changes in order to reduce the corporation's pension liability and then shifted the bulk of responsibility for funding the new Portable Pension Plan to the employee. Whether you like it or not, FedEx will force you to contribute at least 3% of your pay into the 401k plan. FedEx will also make a contribution, but this new plan is essentially employee-funded, NOT Fedex funded. Just another take-away from a long list of them. If you did work for FedEx, you would understand this is just one facet of a multi-year plan to de-content the compensation package for hourly employees and pad profits. In a way, I applaud their audacity, because it is finally starting to backfire on them as hourlies and managers leave in droves. Once you start stripping-out the quality of a product or service, you eventually get what you pay for...in this case, unmotivated employees who give poor service to customers and have lousy productivity. All of the recent lawsuits are just the tip of the iceberg as people finally get fed-up with all of the BS and abuse that has been heaped upon them over the last few years. When you don't have representaion, you turn to attorneys, who are starting to smell blood in the water. [/QUOTE]
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An Appeal To UPSer's From FedEx Drivers
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