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UPS Partners
Management Cuts for Teamsters
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<blockquote data-quote="Channahon" data-source="post: 279931" data-attributes="member: 7666"><p>beentheredonethat,</p><p> </p><p>I left in 2006 and was still working when some of the changes you mentioned were implemented. </p><p> </p><p>The stock program as it is now, I believe was done for expensing purposes. I'm not a finance person, but as I understood it, if an employee leaves before retirement, the stock lost to that person, can then be taken off the books. Whereas, with division managers stock options, if you left you lost those as well. Is it right with a publicly owned company, I don't know, but I am sure corporate legal and finance researched and made that call.</p><p> </p><p>As far as earning vacations, if you generally came to work everyday, then no problem. However, with some management going out on stress for extended length of time (sometimes valid, sometimes not, based on employee history), I believe that is why that change was made.</p><p> </p><p>And no doubt there are way too many people in corporate, hence the buyout, which the only people I knew that took it were within 5 years of retirement. That really didn't pan out as corporate would have liked, so maybe that was a good message for them to receive.</p><p> </p><p>I also feel there will be changes to the pension plan to mirror the changes made at FedEx earlier this year. There will no longer be a defined benefit program, but an enhanced 401K that will be managed by the employee.</p><p> </p><p>It's a changing business world out there, and unfortunately, UPS is changing accordingly to stay competitive. Do I like what I'm seeing for the management team, absolutely not. But everyone has a choice, to stay and retire from UPS or pursue other interests, which I think lately, the numbers of UPS management leaving is shameful to UPS.</p><p> </p><p>Overall, UPS has changed to meet the times, but we are still in business and well respected in the business world. It is sometimes disheartening to see other large companies struggle to stay afloat at the expense of their employees. </p><p> </p><p>The auto industry is a good example of that. GM just went through negotiations, a minor strike and is now announcing layoffs, that will affect their employees job security.</p><p> </p><p>Just my thoughts and opinions</p><p>Happy Holidays</p></blockquote><p></p>
[QUOTE="Channahon, post: 279931, member: 7666"] beentheredonethat, I left in 2006 and was still working when some of the changes you mentioned were implemented. The stock program as it is now, I believe was done for expensing purposes. I'm not a finance person, but as I understood it, if an employee leaves before retirement, the stock lost to that person, can then be taken off the books. Whereas, with division managers stock options, if you left you lost those as well. Is it right with a publicly owned company, I don't know, but I am sure corporate legal and finance researched and made that call. As far as earning vacations, if you generally came to work everyday, then no problem. However, with some management going out on stress for extended length of time (sometimes valid, sometimes not, based on employee history), I believe that is why that change was made. And no doubt there are way too many people in corporate, hence the buyout, which the only people I knew that took it were within 5 years of retirement. That really didn't pan out as corporate would have liked, so maybe that was a good message for them to receive. I also feel there will be changes to the pension plan to mirror the changes made at FedEx earlier this year. There will no longer be a defined benefit program, but an enhanced 401K that will be managed by the employee. It's a changing business world out there, and unfortunately, UPS is changing accordingly to stay competitive. Do I like what I'm seeing for the management team, absolutely not. But everyone has a choice, to stay and retire from UPS or pursue other interests, which I think lately, the numbers of UPS management leaving is shameful to UPS. Overall, UPS has changed to meet the times, but we are still in business and well respected in the business world. It is sometimes disheartening to see other large companies struggle to stay afloat at the expense of their employees. The auto industry is a good example of that. GM just went through negotiations, a minor strike and is now announcing layoffs, that will affect their employees job security. Just my thoughts and opinions Happy Holidays [/QUOTE]
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