Breaking News Regarding Fed Ex Express

Bubblehead

My Senior Picture
Jesus, if UPS offered pension buyouts to 20-25 year guys, man, this place would be a ghost town.
As you know , we use to have 25 and out , and I made it clear to my wife I was doing 25 and out and doing something I really wanted to do. I think your right , many would be gone.
....and what percentage of the workforce fits that description???

25% maybe???

Probably not, but for every "long-in-the-tooth" driver eliminated, the Company gets a 50% or more discount under the newly ratified Master and most supplements.
 

Box Ox

Well-Known Member

People need to keep in mind that this is primarily due to problems FedEx is having internationally, not domestically. It seems that TNT really hasn't worked out well for them.

For those who might be WSJ paywalled:

"The company has struggled since acquiring European rival TNT Express for $4.8 billion in 2016. The business was paralyzed by a cyberattack in 2017 and has also struggled with integration and lower-than-expected package volumes.

FedEx said the TNT deal won’t improve profits by at least $1.2 billion next fiscal year as it had projected.

The buyouts and cost cuts come as FedEx is in the midst of its peak shipping period, the busiest stretch of the year between Thanksgiving and Christmas. FedEx Chairman and CEO Fred S said that despite slowdowns overseas, the U.S. economy remains strong."
 

Jackburton

Gone Fish'n
As you know , we use to have 25 and out , and I made it clear to my wife I was doing 25 and out and doing something I really wanted to do. I think your right , many would be gone.
We still have a 25 and out down here in Southern. Problem with it is staying an extra 5 till 30 almost doubles your payout.
 

babboo25

Well-Known Member
Is the buyout amount enough to not work anywhere else? Our old center manager was bought out several years ago but he had to find another job.
 

Jackburton

Gone Fish'n
Is the buyout amount enough to not work anywhere else? Our old center manager was bought out several years ago but he had to find another job.
No one is saying they wouldn’t work somewhere else, it’s about hitting years of service for full pension credits.
 

rod

Retired 19 years
As you know , we use to have 25 and out , and I made it clear to my wife I was doing 25 and out and doing something I really wanted to do. I think your right , many would be gone.
I’ve known many who said that but none who did. Everyone of them ended up with 30
 

Skooney

Well-Known Member
Man I wish UPS would come to me with that buyout. With :censored2:bags like Laguna representing union interests instead of people, how many more are just like him? I know my local is...

Get me out 4 years early, I’ll touch a wiener for that deal. Lol.
 
People need to keep in mind that this is primarily due to problems FedEx is having internationally, not domestically. It seems that TNT really hasn't worked out well for them.

For those who might be WSJ paywalled:

"The company has struggled since acquiring European rival TNT Express for $4.8 billion in 2016. The business was paralyzed by a cyberattack in 2017 and has also struggled with integration and lower-than-expected package volumes.

FedEx said the TNT deal won’t improve profits by at least $1.2 billion next fiscal year as it had projected.

The buyouts and cost cuts come as FedEx is in the midst of its peak shipping period, the busiest stretch of the year between Thanksgiving and Christmas. FedEx Chairman and CEO Fred S said that despite slowdowns overseas, the U.S. economy remains strong."
I knew Fedex wasn’t a good fit for TNT. Maybe the same for ups. Ups most being saying we dodge that one!
 

Mugarolla

Light 'em up!
FedX may finaly integrate air and ground into one operation. It would massively boost profit, probably a good stock to own when they do. It would be like UPS making money again if the abandoned ORION!


Doubtful.

Right now, FedEx Express, being an airline, is governed by the RLA.

In order for a union to organize them, they have to do it as an entire company, not local by local.

Unlike FedEx Ground, the union can organize local by local. Governed by the NLRB.

If FedEx merges the two into one operation, the RLA protection may disappear and the whole operation may be governed by the NLRB, meaning local by local can be organized.

Too big a gamble for FredEx.
 
Top