Breaking News Regarding Fed Ex Express
- Thread starter JackInDaBox
- Start date
JackInDaBox
New Member
Click on the link..... very interesting story, click on FED EX STARTS BUY OUT AND IT WILL TAKE YOU TO THE STORY
Coldworld
Well-Known Member
Wdfd.... maybe amazon will buy them out for pennies on the dollar
Jackburton
Gone Fish'n
Jesus, if UPS offered pension buyouts to 20-25 year guys, man, this place would be a ghost town.
Operational needs
Virescit Vulnere Virtus
So would FedEx if they offered it to the drivers.
BakerMayfield2018
Fight the power.
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.
Bubblehead
My Senior Picture
....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.
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
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.
Jackburton
Gone Fish'n
No one is saying they wouldn’t work somewhere else, it’s about hitting years of service for full pension credits.
rod
Retired 23 years
I’ve known many who said that but none who did. Everyone of them ended up with 30
What'dyabringmetoday???
Well-Known Member
Enter Big Union Guy in 3,2,1....lol.Man I wish UPS would come to me with that buyout. Withbags 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.
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!
East coast navy
Veteran
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!
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.
clean hairy
Well-Known Member
Fedex buying tnt was not a good idea?
Why? Did the deal blow up on them?
Why? Did the deal blow up on them?
specter208
Well-Known Member
TNT not as profitable is they hoped it would be. May end up costing them money if not already.
cachmeifucan
Well-Known Member
Ups tried to buy tnt but it was blocked. So I guess it worked out well for us at ups
