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FedEx Portable Pension Plan Sucks vs. UPS Plan
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<blockquote data-quote="MrFedEx" data-source="post: 287127" data-attributes="member: 12508"><p>Although it's certainly true that many companies are cutting-back their retirement plans, it's also true that most companies are not because they are interested in retaining good employees. If you did work at FedEx you would have noticed many talented people leaving for greener pastures. The net result is a company being gutted from the inside-out. Anyone who has worked there for more than a year or two can attest to the steady downhill slide.Pretty soon it's going to be straight down. It's not just hourlies quitting, but plenty of managers as well. The customer is finally starting to see the difference in increasingly lousy service and indifferent workers that no longer care about doing an excellent job. Why go the extra mile for a company that treats you like crap? The message is loud and clear..."We no longer value you enough to compensate you fairly".</p><p> </p><p>The big difference between FedEx and a lot of other companies that have cut pension plans is that FedEx is still extremely profitable. The major airlines that started this trend were bankrupt....hardly the case at FedEx. Continuing to fund it's traditional pension plan would not have harmed Fedex substantially. They eliminated the plan because of favorable legislation that allowed them to do so, and the lack of viable opposition by employees. It's all about money, and if screwing over the employees adds to the bottom line, it's a "good" thing.</p><p> </p><p>Eventually, it will backfire, and FedEx will have to rebuild the reputation for excellence that they are very rapidly losing. Nobody but the Purple Promise types will put forth the extra effort management has come to expect over the years because they know that the payoff is ZERO.</p></blockquote><p></p>
[QUOTE="MrFedEx, post: 287127, member: 12508"] Although it's certainly true that many companies are cutting-back their retirement plans, it's also true that most companies are not because they are interested in retaining good employees. If you did work at FedEx you would have noticed many talented people leaving for greener pastures. The net result is a company being gutted from the inside-out. Anyone who has worked there for more than a year or two can attest to the steady downhill slide.Pretty soon it's going to be straight down. It's not just hourlies quitting, but plenty of managers as well. The customer is finally starting to see the difference in increasingly lousy service and indifferent workers that no longer care about doing an excellent job. Why go the extra mile for a company that treats you like crap? The message is loud and clear..."We no longer value you enough to compensate you fairly". The big difference between FedEx and a lot of other companies that have cut pension plans is that FedEx is still extremely profitable. The major airlines that started this trend were bankrupt....hardly the case at FedEx. Continuing to fund it's traditional pension plan would not have harmed Fedex substantially. They eliminated the plan because of favorable legislation that allowed them to do so, and the lack of viable opposition by employees. It's all about money, and if screwing over the employees adds to the bottom line, it's a "good" thing. Eventually, it will backfire, and FedEx will have to rebuild the reputation for excellence that they are very rapidly losing. Nobody but the Purple Promise types will put forth the extra effort management has come to expect over the years because they know that the payoff is ZERO. [/QUOTE]
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FedEx Portable Pension Plan Sucks vs. UPS Plan
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