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UPS Partners
Management Buy-out and Pension cut
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<blockquote data-quote="wkmac" data-source="post: 142608" data-attributes="member: 2189"><p>There are a number of rampant rumors running around right now concerning this. One I heard from a Corp. management person was that anyone 50 of above on the day of announcement is set in stone under the old retirement conditions. Any management person under 50 will have to work until 62 years old to get retirement no matter how many years service. When this rumor was running it was also alledged to be announced at any moment and then all of a sudden put on hold. </p><p> </p><p>I think the "put on hold" classification comes into play when the rumor fails to materialize.</p><p> </p><p>Regardless of what happens, there is one truth at the heart of all of this. Many and I mean many management folks are starting to question their longterm security which in years past was never a part of the mindset at all. As an hourly I have no say or in one sense, no stake in what UPS does in this area. However, not having a stake is really no true either because as UPS continues it's path away from the basic principles of Jim Casey, I see the ranks of management becoming less and less attractive to the best people and in time this will affect the company and it's future results. 20 years ago we began a process towards bottom pulling from the labor pool for our PT hourly ranks which in turn feed our future driver and management ranks. Now it seems this process may have begun with the management ranks itself.</p><p> </p><p>One person here suggested management retirement changes are needed to pay for the union pension crisis and although I think it's remote UPS would do such a thing, it's also been proven over the last few years that UPS leadership has developed a good habit of doing the unthinkable in how they run this company so that claim at the end of the day may have merit. </p><p> </p><p>If we continue the course, the music for next year's 100th anniversay celebration will be an intro to our own funeral dirge performed in </p><p>accelerando!</p><p>JMO</p></blockquote><p></p>
[QUOTE="wkmac, post: 142608, member: 2189"] There are a number of rampant rumors running around right now concerning this. One I heard from a Corp. management person was that anyone 50 of above on the day of announcement is set in stone under the old retirement conditions. Any management person under 50 will have to work until 62 years old to get retirement no matter how many years service. When this rumor was running it was also alledged to be announced at any moment and then all of a sudden put on hold. I think the "put on hold" classification comes into play when the rumor fails to materialize. Regardless of what happens, there is one truth at the heart of all of this. Many and I mean many management folks are starting to question their longterm security which in years past was never a part of the mindset at all. As an hourly I have no say or in one sense, no stake in what UPS does in this area. However, not having a stake is really no true either because as UPS continues it's path away from the basic principles of Jim Casey, I see the ranks of management becoming less and less attractive to the best people and in time this will affect the company and it's future results. 20 years ago we began a process towards bottom pulling from the labor pool for our PT hourly ranks which in turn feed our future driver and management ranks. Now it seems this process may have begun with the management ranks itself. One person here suggested management retirement changes are needed to pay for the union pension crisis and although I think it's remote UPS would do such a thing, it's also been proven over the last few years that UPS leadership has developed a good habit of doing the unthinkable in how they run this company so that claim at the end of the day may have merit. If we continue the course, the music for next year's 100th anniversay celebration will be an intro to our own funeral dirge performed in accelerando! JMO [/QUOTE]
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