early buy out?

[nform1]

Rumor around south Cal feeder is anyone eligible for retirement will be offered an early buy out. $5000 a year for every year of service. Anyone else hear this?

 

[UpstateNYUPSer(Ret)]

Rumor around south Cal feeder is anyone eligible for retirement will be offered an early buy out. $5000 a year for every year of service. Anyone else hear this?

TOS works out of Local 396 which I believe is southern California. He is very involved with the Union and if this rumor is even close to reality he would know or would have least heard about it as well.

Are you talking about employees who already have their 30 years (or whatever is needed for retirement) or are you talking about employees within 5 years of that threshold? Would this buyout be in addition to their pension? A 30 yr employee being offered $150K to leave?

Do you have any more details?

 

[Catatonic]

I know UPS has no interest or motivation to buyout a Union employee.. If a Union employee is not needed, the lowest seniority is laid off.

The Union would not be interested in a buyout unless it reduces the long-term debt.

The $5000 per year of service is high... quite high.

Sorry but somebody is pulling your leg.

 

[brownmonster]

Feeder network gossip.

 

[LagunaBrown]

I am tired of this rumor, been hearing about it for a while now. It gets squashed then it comes right back up....... I hope these guys realize Paycheck Deception and their medical benefits are more of an issue.

 

[alexw08]

Don't hold your breath.

 

[nform1]

Like I said its only rumor. What I heard was those eligible for retirement now, would be offered $5000 per year for every year of service, maxing out at $150000. Doesn`t make sense to me why UPS would offer this. Pretty sure it`s a load of crap, just wondering if anyone else heard the same

 

[hembone]

I remember when this buyout stuff happened a few years ago. I was talking to a guy in my center and he said "I did some math and if they offer me 2.1 million I'll leave." I told him not to throw his uniforms away.

 

[tomlb]

Here is the new rumor. Ups corporate did some math and decided instead of offering early buyouts to raise the costs of benefits, ie med, dental, etc from $50 monthly to $500 for those hourly employees who retire after 7/31/2013. Dont stand in the doorway, you might get run over!

 

[airops]

How about this rumor? The Management Compensation Committee is going to handle the 2013 contract negotiations. It's time to get the rest of the company on par with similar jobs in society. Their proposed cuts would have an interesting affect on our stock price.

 

[brownmonster]

How about this rumor? The Management Compensation Committee is going to handle the 2013 contract negotiations. It's time to get the rest of the company on par with similar jobs in society. Their proposed cuts would have an interesting affect on our stock price.

I would like to have a job on par with the rest of society. Leaving at 8:30, taking lunch from 12 to 12:30, punch out at 5. Might consider some concessions for that.

 

[Catatonic]

I would like to have a job on par with the rest of society. Leaving at 8:30, taking lunch from 12 to 12:30, punch out at 5. Might consider some concessions for that.

Sorry but you are working in the wrong industry for that.

 

[brownmonster]

Sorry but you are working in the wrong industry for that.

Precisely why I'm not compensated like the rest of society.