Earnings report

[Aquaman]

Do you want better pay?
Do you want a Traditional Pension?
Do you want better insurance?
Do you want to be better appreciated?

Why don't you look on Indeed.com and change jobs. No matter what Fedex does you will never be happy.

Not true. Top me out & leave my pension alone and I’ll happily work the next 30 years with a smile on my face. We have 54 RTDS.... 9 of us are topped out. Let that sink in.

 

[Aquaman]

They're offering as much as $20 an hour for PT handler jobs. People are making that much (and more) via COVID unemployment programs. It's hard to compete with free money.

And what’s FedEx gonna do after the stimulus is gone? They’re gonna drop those handlers back to $14/hr. Temporary pay increases aren’t going to cut it. In fact they’re losing employees to them. You have certain stations getting retention pay, when others 50 miles away aren’t. Those employees find out about it and quit. We have temps in our building getting $25/hr next to permanent handlers making $14/hr. We’ve lost a ton of handlers who were furious about that. Temporary increases will do nothing. They’ll make the problem worse once it vanishes. There needs to be permanent overhaul with pay at this company. Because thousands of 18 year drivers on step 5 do so much more anti-hiring than any billboard listing $20/hr can keep up with.

 

[falcon back]

Not true. Top me out & leave my pension alone and I’ll happily work the next 30 years with a smile on my face. We have 54 RTDS.... 9 of us are topped out. Let that sink in.

Not hardly. You bitch and moan about most anything. The Portable is here to stay. Your math seems odd. If you say you will work the next 30 years years, how are you topped out? You then admit 18 year people are on step 5. I see people posting on here they have 20 years and aren't topped out. Doesn't seem possible you are topped out unless the 30 more you are willing to work will go on top of 25 or 30 you have now. IF you have any Traditional, you barely sniffed it before it was gone. If you are indeed topped out and plan on working 30 more years, your Portable will be very large. Not much reason to complain.

 

[El Morado Diablo]

There needs to be permanent overhaul with pay at this company. Because thousands of 18 year drivers on step 5 do so much more anti-hiring than any billboard listing $20/hr can keep up with.

Our workgroup was warned by management not to say anything negative about the company (with an emphasis on pay) to our incoming new hires in order to keep them around longer. We were also told the new hires would be assigned mentors to help them along with their training. I have a feeling the new hires will continue to get an earful from their 10+ year mentors who are on Step 3.

 

[El Morado Diablo]

If you are indeed topped out and plan on working 30 more years, your Portable will be very large. Not much reason to complain.

The Portable pension is a joke.

For example, at the time the Traditional pension ended my estimated pension would have been $1800+ a month (based on what I made at that time) after 25 years. If you take the Portable pension as an annuity it would take me working 40 years to have that same $1800+ a month pension payment. Note: I chose the Traditional over the Portable pension when we were given the choice.

Great savings for the company and it helped reduce it's financial obligations in the future. The only positive thing about the Portable pension was that you could designate anyone as your beneficiary. I hardly think is worth having to work an extra 15 years for the same amount of money.

 

[!Retired!]

Not true. Top me out & leave my pension alone and I’ll happily work the next 30 years with a smile on my face. We have 54 RTDS.... 9 of us are topped out. Let that sink in.

So, are you topped out or not? Also, nobody's touching your pension.

Note: I chose the Traditional over the Portable pension when we were given the choice.

There was no choice. In 2008, they stopped funding the traditional and started the portable. Anyone hired before then will have both.

 

[falcon back]

The Portable pension is a joke.

For example, at the time the Traditional pension ended my estimated pension would have been $1800+ a month (based on what I made at that time) after 25 years. If you take the Portable pension as an annuity it would take me working 40 years to have that same $1800+ a month pension payment. Note: I chose the Traditional over the Portable pension when we were given the choice.

Great savings for the company and it helped reduce it's financial obligations in the future. The only positive thing about the Portable pension was that you could designate anyone as your beneficiary. I hardly think is worth having to work an extra 15 years for the same amount of money.

Either way, it's here to stay. Considering less than 20% of Fortune 500 companies even have a pension, be thankful you still do. Considering even less than that have a Pension AND a 401k, again, you are ahead of many others. In most cases, the 401k is gonna be the basis for retirement, I retired a while back and haven't even touched my pension yet. I am living on my 401k and taking advantage of the yearly increases the Traditional gets for delaying the start of drawing it. Traditional pensions are a thing of the past. Just like bias ply tires, house phones and 8 track stereos. No reason to dwell on the past.

 

[Aquaman]

Not hardly. You bitch and moan about most anything. The Portable is here to stay. Your math seems odd. If you say you will work the next 30 years years, how are you topped out? You then admit 18 year people are on step 5. I see people posting on here they have 20 years and aren't topped out. Doesn't seem possible you are topped out unless the 30 more you are willing to work will go on top of 25 or 30 you have now. IF you have any Traditional, you barely sniffed it before it was gone. If you are indeed topped out and plan on working 30 more years, your Portable will be very large. Not much reason to complain.

You’re an idiot. Your reading comprehension is horrible lol. I never said I was topped out. I said 9 of us are... that’s not including me genius. The post wouldn’t have made much sense if I were topped out would it. But I guess that flew right over your head. Do yourself a favor and listen to books on tape.

 

[Aquaman]

So, are you topped out or not? Also, nobody's touching your pension.

There was no choice. In 2008, they stopped funding the traditional and started the portable. Anyone hired before then will have both.

Nobody has touched my pension. But assuming it’s here to stay is dumb. The traditional was haulted, and the track record this company has doesn’t really suggest the portable is here to stay.

 

[El Morado Diablo]

So, are you topped out or not? Also, nobody's touching your pension.

There was no choice. In 2008, they stopped funding the traditional and started the portable. Anyone hired before then will have both.

Wrong.

When the Portable was introduced you were given the choice to stay on the Traditional or switch to the Portable. New hires had no choice and went on the Portable. A year or so later the company capped the Traditional and moved everyone to the Portable. The people who originally chose the Traditional were given extra credits for being forced to move to the Portable.

Now they are offering you another choice. Stay on the Portable or move to the higher 401k match. Everyone needs to do the math on their own to decide which option is best for you. Just don't be surprised if the company caps the Portable too and moves everyone to the new 401k match.

 

[falcon back]

You’re an idiot. Your reading comprehension is horrible lol. I never said I was topped out. I said 9 of us are... that’s not including me genius. The post wouldn’t have made much sense if I were topped out would it. But I guess that flew right over your head. Do yourself a favor and listen to books on tape.

9 of US are topped out usually means YOU are one of the 9. 9 of THEM are topped out would exclude you from the group. Get a 5th grader to explain basic English to you.

You are the reason the company has digressed in recent years. They hired morons like you and the result has been anything but positive. You cant even make a coherent sentence while using proper English.

 

[MAKAVELI]

Not hardly. You bitch and moan about most anything. The Portable is here to stay. Your math seems odd. If you say you will work the next 30 years years, how are you topped out? You then admit 18 year people are on step 5. I see people posting on here they have 20 years and aren't topped out. Doesn't seem possible you are topped out unless the 30 more you are willing to work will go on top of 25 or 30 you have now. IF you have any Traditional, you barely sniffed it before it was gone. If you are indeed topped out and plan on working 30 more years, your Portable will be very large. Not much reason to complain.

Portable is gone for new hires and will eventually be gone for everyone just like the traditional.

 

[falcon back]

Portable is gone for new hires and will eventually be gone for everyone just like the traditional.

Where did you hear that? Or is that just another prediction from the doom and gloom crowd?

 

[MAKAVELI]

Where did you hear that? Or is that just another prediction from the doom and gloom crowd?

Not a prediction. It's a known fact FedEx wants to rid itself of all pension liabilities. Switching to just a 401k saves the company a boatload of $. Even a simpleton like yourself should understand that.

 

[59 Dano]

And what’s FedEx gonna do after the stimulus is gone? They’re gonna drop those handlers back to $14/hr.

What are the people who are laying out and collecting generous COVID unemployment bennies going to do once those programs end? They're going to go out and look for work.

Temporary pay increases aren’t going to cut it. In fact they’re losing employees to them. You have certain stations getting retention pay, when others 50 miles away aren’t. Those employees find out about it and quit.

And the guy 50 miles away is still getting a retention bonus and the guy who quit still isn't getting one and, even worse, he has no job. BUT HE SHOWED THEM!!!

We have temps in our building getting $25/hr next to permanent handlers making $14/hr. We’ve lost a ton of handlers who were furious about that. Temporary increases will do nothing. They’ll make the problem worse once it vanishes. There needs to be permanent overhaul with pay at this company. Because thousands of 18 year drivers on step 5 do so much more anti-hiring than any billboard listing $20/hr can keep up with.

You don't solve temporary problems with permanent solutions.

 

[falcon back]

Not a prediction. It's a known fact FedEx wants to rid itself of all pension liabilities. Switching to just a 401k saves the company a boatload of $. Even a simpleton like yourself should understand that.

You better hope crack gets legalized if you ever want to retire
Making predictions just like every other doom and gloom does.

 

[MAKAVELI]

What are the people who are laying out and collecting generous COVID unemployment bennies going to do once those programs end? They're going to go out and look for work.



And the guy 50 miles away is still getting a retention bonus and the guy who quit still isn't getting one and, even worse, he has no job. BUT HE SHOWED THEM!!!


You don't solve temporary problems with permanent solutions.

The problem is turnover and retention, not hiring. Which has become a permanent problem that needs a permanent solution.

 

[Nolimitz]

The problem is turnover and retention, not hiring. Which has become a permanent problem that needs a permanent solution.

Not so here. yes we are losing folks but no one is being hired either... wages are to low to even attract handlers much less couriers. this area is the in lowest scale yet our COL is in the same bracket as San Fran and many other large metro areas. You cant touch a 1 bed rm appt for less than 1300 a month. buy a house forget about it.

 

[MAKAVELI]

Not so here. yes we are losing folks but no one is being hired either... wages are to low to even attract handlers much less couriers. this area is the in lowest scale yet our COL is in the same bracket as San Fran and many other large metro areas. You cant touch a 1 bed rm appt for less than 1300 a month. buy a house forget about it.

Company wide they just can't keep up with the turnover. The word is out on the street how bad FedEx pay system is and less people are applying.

 

[Nolimitz]

and those that apply dont show for an interview. That may change soon