S
speeddemon
Guest
my thoughts on this BxS=BS
Coldworld
60 months and counting
division manager and higher.....hmmmm, this should be less than 100 people nationwide. These people are already worth millions in stock at this level of management. Then ups is going to buy them out with an additional million dollars. My thoughts exactly speed.....Can you say bull ****!!!
B
brownISer
Guest
hey UPSIS -- do I know you?
You won't know until Monday what the offical company line is.
It may change too. But this is what I Know so far.
Grade 18 and above that are 50 yrs or older will be considered
for early retirement (may be forced) by paying off their pension, meaning a lump sum rather than a monthly pension.
Formula is: Years of service X monthly sal. X 23 X .2 = lump sum.
It may change too. But this is what I Know so far.
Grade 18 and above that are 50 yrs or older will be considered
for early retirement (may be forced) by paying off their pension, meaning a lump sum rather than a monthly pension.
Formula is: Years of service X monthly sal. X 23 X .2 = lump sum.
A
asdldfg'SRJG"po:s
Guest
I still don't get why UPS would do this. We seem to have plenty of sups, managers and division managers leaving every week. Little or no candidates to replace them. UPS can just sit back and wait for enough folks to quit. Personally, I hope all this is true. I would meet any of the "rumored" qualifications..
i just got home from work.I work at UPS in Secaucus and the rumors have been flying the last 3 days.The last thing i heard before i left was that the offer was for grades 18 and up and the formula was monthly salary x years of service x23 x.2.Lots of people hoping this is just the first group to be offered an ero.I heard that by sept. 07 there needs to be a reduction of 12% in the non union workforce.Again though there is no specifics as to how or if it is management and admin or just management.We have heard the pcm will be on monday morning.This is going to be a long weekend.
A
an anonymous guest
Guest
Ah...Yes...a long career reduced to a 3 minute PCM.....nothing changes...
Go UPS!
P71
Go UPS!
P71
alwaysaware
Member
Lets see - We are getting in deep with Peak and there is going to be an 'oh by the way' PCM on Monday... call me a bit dumb, but something doesn't seem right... Is it just me ???
A
Anonymous 99999
Guest
reduction of 600 people from corporate - 53 and above - 6 months salary - and they make u 55. Monday is the announcement
Good source
Good source
alwaysaware
Member
What's your definiton of 'Corporate' ??? Mine has always been Atlanta. 600 out of 350,000 plus That's not a lot - Go back and check your source... Now I'm beginning to think FedEx started this thread.
H
HaveNotDivMgr
Guest
Point of clarification - Grade 18s and below promoted after going public in 1999 do not have all of the stock, benefits, retirement package etc... even with 25 yrs of service. Middle management keeps sucking up low wage increases, health care cost increases, lower stock bonuses which are given on the "installment plan", retirement already limited by birth year... This is not the UPS partnership anymore, this is corporate America. Good for the Shareholders, lets put a face on it, Good for Mike E and Scott D, .... so when they sell the next cut as good for the Shareholders, they are really looking in a mirror. How do they sleep at night? It is starting to look like a pyramid scheme around here. Can management join the union?
A
Anonymous Cow I AM
Guest
There is no way a PCM will be given for something this big. In 1995 all management were called to an emergency meeting. There is no meeting that I am aware at this time. Furthermore how could they offer a buyout and then raise the age if something was not offered to everyone say 50 and older? Good posts by everyone but there are just too many holes for me to believe this one.
tieguy
Banned
I keep hearing two rumors one is the grade 18 buyout the other one which is gaining steam as of late is a pension buyout similar to many posted here. Announcement almost guarenteed to be monday. I've heard these rumors before. Believe it when I see it on paper. Until then nice for the gossip circles but thats all.
Captain1987
Adjunct Member
Interesting that the retirement age could go to 57 or greater (depending on the rumor you listen to). First the MIP is changed and now they want to prolong the agony and make it longer until you retire? It seems that there will be a greater termination rate before 57 thus saving $$$ over the long run. Trust me folks...UPS as a "Great Place to be" is a long forgotten dream.
S
speeddemon
Guest
Captain, I coudnt agree with you more. Eskew has ruined this company. What a shame.
Similar threads
