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Fedex to pay $228 million to settle independent contractor case
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<blockquote data-quote="It will be fine" data-source="post: 1681434" data-attributes="member: 55017"><p>For those of you thinking this settlement is punitive to FedEx, it's time to play Let's Do The Math!</p><p>228 mil, 2300 contractor/employees, 7 years</p><p>~$100k/contractor</p><p>Costs over 7 years approximate. </p><p>New Truck lease - $67,000</p><p>2 full sets of tires - $3000</p><p>3 Pms/yr - $3000</p><p>Fuel - $25,000, wild guess fuel was cheaper then. </p><p>Work comp - $50,000</p><p>Employer match taxes - $30,000</p><p>Total ~$178,000</p><p>That assumes no truck repairs and a salary around $45k/yr which is low considering the average hours worked for contractors. I think they'll make that trade any day.</p></blockquote><p></p>
[QUOTE="It will be fine, post: 1681434, member: 55017"] For those of you thinking this settlement is punitive to FedEx, it's time to play Let's Do The Math! 228 mil, 2300 contractor/employees, 7 years ~$100k/contractor Costs over 7 years approximate. New Truck lease - $67,000 2 full sets of tires - $3000 3 Pms/yr - $3000 Fuel - $25,000, wild guess fuel was cheaper then. Work comp - $50,000 Employer match taxes - $30,000 Total ~$178,000 That assumes no truck repairs and a salary around $45k/yr which is low considering the average hours worked for contractors. I think they'll make that trade any day. [/QUOTE]
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Fedex to pay $228 million to settle independent contractor case
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