Buyout Info from Investors Meeting

[Rhoderunner]

From the Commercialappeal.com.......Smith and chief financial officer Alan B. Graf Jr. said they expect several thousand well-paid, long-tenured employees, including a "substantial" number from Greater Memphis, to happily walk out the door next May 31 with generous severance packages.

The buyouts will be offered to well-paid, long-tenured employees, primarily in the express division, based in Memphis, and a support unit, FedEx Services.
"It's a reasonably small number, but because they are highly compensated staff personnel, it's a big number on the bottom line on a go-forward basis," Smith said.

The number of buyouts and impact on Memphis probably won't be known until next spring. "We don't anticipate having more details about the voluntary buyouts until the second half of fiscal 2013," FedEx Express president and CEO David J. Bronczek said.

 

[Catatonic]

Meep, meep

 

[vantexan]

From the Commercialappeal.com.......Smith and chief financial officer Alan B. Graf Jr. said they expect several thousand well-paid, long-tenured employees, including a "substantial" number from Greater Memphis, to happily walk out the door next May 31 with generous severance packages.

The buyouts will be offered to well-paid, long-tenured employees, primarily in the express division, based in Memphis, and a support unit, FedEx Services.
"It's a reasonably small number, but because they are highly compensated staff personnel, it's a big number on the bottom line on a go-forward basis," Smith said.

The number of buyouts and impact on Memphis probably won't be known until next spring. "We don't anticipate having more details about the voluntary buyouts until the second half of fiscal 2013," FedEx Express president and CEO David J. Bronczek said.

If these people aren't necessary to the operation of the company then what are they doing there to begin with? Are they relatives? Idiot nephews of major customer CEO's? When you can shed several thousand people pretty quickly either the remaining employees will be swamped with work, or these people were being carried. Highly compensated would suggest they have necessary expertise. They can get generous severance pkgs but senior couriers who'd be willing to walk for a year's pay have to keep working.

 

[StuffItFred]

The buyouts will be offered to well-paid, long-tenured employees, primarily in the express division, based in Memphis, and a support unit, FedEx Services.
"It's a reasonably small number, but because they are highly compensated staff personnel, it's a big number on the bottom line on a go-forward basis," Smith said.

The number of buyouts and impact on Memphis probably won't be known until next spring. "We don't anticipate having more details about the voluntary buyouts until the second half of fiscal 2013," FedEx Express president and CEO David J. Bronczek said.

Hmmmm, would love to see Matt T* walk out the door on a buyout. LOL, since he is "HIGHLY COMPENSATED STAFF"

 

[MrFedEx]

Hmmmm, would love to see Matt T* walk out the door on a buyout. LOL, since he is "HIGHLY COMPENSATED STAFF"

Maybe they'll give him his own jet as a going-away present.

 

[MrFedEx]

If these people aren't necessary to the operation of the company then what are they doing there to begin with? Are they relatives? Idiot nephews of major customer CEO's? When you can shed several thousand people pretty quickly either the remaining employees will be swamped with work, or these people were being carried. Highly compensated would suggest they have necessary expertise. They can get generous severance pkgs but senior couriers who'd be willing to walk for a year's pay have to keep working.

Great point. I wish they would shed some of us expedable couriers, but they'll just try and make it so miserable that we'll just leave.

 

[StuffItFred]

Maybe they'll give him his own jet as a going-away present.

Yeah with Freddy's on the side of the outdated 727 or DC10 so the view never changes for Matt!

 

[MrFedEx]

Yeah with Freddy's on the side of the outdated 727 or DC10 so the view never changes for Matt!

Dude, where have you been all this time? You GET it. MT3 likes to shove his nose right up in there and make Fred feel important. I wonder if his hands flap around while he's up Fred's backside?

 

[StuffItFred]

Dude, where have you been all this time? You GET it. MT3 likes to shove his nose right up in there and make Fred feel important. I wonder if his hands flap around while he's up Fred's backside?

I had the utmost pleasure(completely sarcastic) meeting this at a STA in Atl several years ago. He is just as annoying in person as he is on frontline. He didn't have a clue then and still doesn't have a clue. He felt the need to bla bla about his "wonderful career since 1978." Should have asked him how it felt dangling from the manhood of Freddy for so many years.

 

[MrFedEx]

I had the utmost pleasure(completely sarcastic) meeting this at a STA in Atl several years ago. He is just as annoying in person as he is on frontline. He didn't have a clue then and still doesn't have a clue. He felt the need to bla bla about his "wonderful career since 1978." Should have asked him how it felt dangling from the manhood of Freddy for so many years.

Kind of like a remora on a shark...a parasite.

 

[Glorifiedpackmule]

I had the utmost pleasure(completely sarcastic) meeting this at a STA in Atl several years ago. He is just as annoying in person as he is on frontline. He didn't have a clue then and still doesn't have a clue. He felt the need to bla bla about his "wonderful career since 1978." Should have asked him how it felt dangling from the manhood of Freddy for so many years.

Did you ask Matt what things were like when he was a courier??? Oh that's right... We take orders from a man that's never seen the inside of a FedEx truck.

 

[StuffItFred]

Did you ask Matt what things were like when he was a courier??? Oh that's right... We take orders from a man that's never seen the inside of a FedEx truck.

Wait, we are talking abut the same place? The one that puts "managers" "engineers" "auditors" etc etc in charge of our jobs that have never even delivered ONE SINGLE pkg. And can tell you how to do your job better but if they had the powerpad in their hands and 150pkgs on a truck they would be lost.

 

[Glorifiedpackmule]

Wait, we are talking abut the same place? The one that puts "managers" "engineers" "auditors" etc etc in charge of our jobs that have never even delivered ONE SINGLE pkg. And can tell you how to do your job better but if they had the powerpad in their hands and 150pkgs on a truck they would be lost.

Yep...Must be the place. I'd love if Fred, Matt, or Dave would show me how to deliver the purple promise in person. I'd love to observe one of them do my route so I can see how it's supposed to be done. Maybe I'll write them a letter! lol

 

[59 Dano]

Wait, we are talking abut the same place? The one that puts "managers" "engineers" "auditors" etc etc in charge of our jobs that have never even delivered ONE SINGLE pkg. And can tell you how to do your job better but if they had the powerpad in their hands and 150pkgs on a truck they would be lost.

It's only fair. After all, this is the same place that's filled with people who couldn't handle being the executive of a lemonade stand who think that they should be making executive level decisions.

 

[MrFedEx]

It's only fair. After all, this is the same place that's filled with people who couldn't handle being the executive of a lemonade stand who think that they should be making executive level decisions.

Defend the indefensible...as usual. Does MT3 write this crap down for you?

 

[Cactus]

It's only fair. After all, this is the same place that's filled with people who couldn't handle being the executive of a lemonade stand who think that they should be making executive level decisions.

And yet you still hang around here. Do us all a favor and leave.

 

[jitender1975]

Successful buyout firms have chosen to raise staff pay in many cases soon after a successful fund close is likely to cause a few ripples.

 

[59 Dano]

Defend the indefensible...as usual. Does MT3 write this crap down for you?

Not defending anything, just making an observation. I'm sure that neither the president or the CEO of the Broncos can play football worth a lick, but most of the grown-ups in the world understand that they still have a right to tell the players and coaches what to do and set expectations of them.

 

[59 Dano]

And yet you still hang around here. Do us all a favor and leave.

I come and go, but if you don't like it, you can leave. Or grow up. Either/or.

 

[MrFedEx]

Not defending anything, just making an observation. I'm sure that neither the president or the CEO of the Broncos can play football worth a lick, but most of the grown-ups in the world understand that they still have a right to tell the players and coaches what to do and set expectations of them.

Most people in the NFL have a pretty good idea of what goes on down the field. At FedEx, Fred and MT3 think we kick home runs and punt pitches. Don't forget when a player gets a Grand Slam, he scores 6 points.