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Anyone see official Buyout letter today ?
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<blockquote data-quote="Ricochet1a" data-source="post: 1008483" data-attributes="member: 22880"><p>A "buyout" is considered a voluntary termination on the part of the employee - the employee ISN'T eligible for unemployment if they accept a "buyout" from their employer. The buyout WILL HAVE a statement within it that specifies that the employee is voluntarily terminating their employment (quitting), in exchange for a payout of a sum agree to. </p><p></p><p>They will lay people off if they have to - they did it back in 2009. FedEx wants to avoid the unemployment compensation liability if at all possible. </p><p></p><p>So all those who are "targeted", will (if they are smart), look at the size of the offered buyout, and compare that to the net value of unemployment compensation (the vast majority of them will be TN residents) should they not accept the offer. They will also start looking for a job come October (once the positions to be eliminated are officially identified) and if they happen to find something before the March-April buyout dates - they'll jump ship (and take the buyout and run). If not, then they'll decide whether it is wise to take the buyout (and forgo unemployment), or refuse the money and have FedEx formally lay them off.</p></blockquote><p></p>
[QUOTE="Ricochet1a, post: 1008483, member: 22880"] A "buyout" is considered a voluntary termination on the part of the employee - the employee ISN'T eligible for unemployment if they accept a "buyout" from their employer. The buyout WILL HAVE a statement within it that specifies that the employee is voluntarily terminating their employment (quitting), in exchange for a payout of a sum agree to. They will lay people off if they have to - they did it back in 2009. FedEx wants to avoid the unemployment compensation liability if at all possible. So all those who are "targeted", will (if they are smart), look at the size of the offered buyout, and compare that to the net value of unemployment compensation (the vast majority of them will be TN residents) should they not accept the offer. They will also start looking for a job come October (once the positions to be eliminated are officially identified) and if they happen to find something before the March-April buyout dates - they'll jump ship (and take the buyout and run). If not, then they'll decide whether it is wise to take the buyout (and forgo unemployment), or refuse the money and have FedEx formally lay them off. [/QUOTE]
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Anyone see official Buyout letter today ?
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