brownmonster
Man of Great Wisdom
I would hope that is how it works.
Management Early retirement option coming in January
- Thread starter sosocal
- Start date
I would hope that is how it works.
The increase is in the business plan for 2010 but it is not a given. There was also an increase in salary for management in the 2009 business plan that never came to fruition.
Here we go again, another rumor about management ERO/Buy out. Do not see it, the people in charge will go about it through attrition. When people quit or retire they just will eliminate that position. The company has been doing that for years with it's hourly employees, why change standards of practice now. I expect severe increases with the medical retirement package to keep people from retiring before age 65, that is when medicare kicks in. Save alot of money that way. Maybe extend the retirement age to 62 and such just to make it more interesting.
Would be interesting to see the attrition rate for any employee, hourly or management in order for them to collect any pension benefit. Frankly speaking anybody who has been with the company for over 25 without major medical problems, terminated or quiting has to be high. I guess survival of the fittest (Darwin's theory).
Would be interesting to see the attrition rate for any employee, hourly or management in order for them to collect any pension benefit. Frankly speaking anybody who has been with the company for over 25 without major medical problems, terminated or quiting has to be high. I guess survival of the fittest (Darwin's theory).
upsgrunt
Well-Known Member
It seems to me the nature of UPS is that they will not reward you financially to leave early when they can indirectly force you you to do the same for nothing.
If that makes no sense, try it this way:
Instead of paying someone to retire early, why not make their work life a living hell so they quit and the cost to UPS is nothing.
If that makes no sense, try it this way:
Instead of paying someone to retire early, why not make their work life a living hell so they quit and the cost to UPS is nothing.
Babagounj
Strength through joy
That is called a typical workday at UPS.
When I retire I will be quitting, but with a big smile on my face.
This one makes a lot of sense.....I could see this definately on the table.
I'm hearing the same - starting with 55 plus and then younger if the magic number is not met through that offer - Also hearing the magic number is tied to staffing a reporting structure of 3 Regions and 30 Districts.
D
Dis-organized Labor
Guest
I hear nothing in the Airline.
upandcomer
Well-Known Member
This would be deep, it seems that every time this rumor comes around the rumor is a lot deeper than it actually ends up being.
I still think the long-term plan is to structure the Small Package side of the business like Supply Chain Solutions. Two regions and maybe 20-30 districts, with a lot less Grade 20+'s out there.
Also from what I have been hearing long term integration of the three business segments (Package, Supply Chain, and Freight) will be all but impossible which will keep costs higher than needed going forward.
Unfortunately with higher operating costs, and improving network efficiencies (reducing ground delivery times), it seems the only way for UPS to grow in the near future is going to be Internationally, or getting FedEx's exemption changed.
tieguy
Banned
There are quite a few management hanging around past the age of 55. Interesting twist on the standard yearly rumor.
UPS Lifer
Well-Known Member
Ever since I was 50, I have heard rumors of some sort of retirement buyout. I am extremely skeptical of any buyout. I will be retired 3 years in March.
What Hoke says is probably more accurate than anything...
If the company is deciding to cut to 3 regions and 30 districts, I might buy the folks over 55 buyout. UPS might give them a bonus to leave. Those over 55 already get their retirement benefits so to entice them to leave UPS might decide to throw a bonus at them to leave. One of the rules of an ERO is that you cannot make it better than the previous one. Each succeeding buyout has to be less than the one before it. It also needs to be offered to everyone that fits in a certain category. For example - all management over 55 or all division managers and above with 25 years of service - etc. etc. if you are offering a dollar amount per year of service, UPS can't offer anymore than what was offered to the folks the previous buyout.
This will be interesting to see what does or more likely what does not develop this coming quarter.
What Hoke says is probably more accurate than anything...
If the company is deciding to cut to 3 regions and 30 districts, I might buy the folks over 55 buyout. UPS might give them a bonus to leave. Those over 55 already get their retirement benefits so to entice them to leave UPS might decide to throw a bonus at them to leave. One of the rules of an ERO is that you cannot make it better than the previous one. Each succeeding buyout has to be less than the one before it. It also needs to be offered to everyone that fits in a certain category. For example - all management over 55 or all division managers and above with 25 years of service - etc. etc. if you are offering a dollar amount per year of service, UPS can't offer anymore than what was offered to the folks the previous buyout.
This will be interesting to see what does or more likely what does not develop this coming quarter.
negrosangre
Well-Known Member
But with an ERO, isn't there a "severance package" component?
randomUPSISer
Well-Known Member
I believe that was the offer to those over 55 over the summer of 2009 who were targeted for "involuntary separation". Consider that most everyone in management expects more "involuntary separation" after peak it wouldn't surprise me to see this offer put out there too!
I heard today,from relaible region sources,that a EBO for management is coming after the first of the year. A lot will be due in part to consolidations of regions and districts. Nobody is clear on who will quailify. One of my souces says 50 and older grade 18. Several sources on this site are stating 55 and older regardless of grade.
Which is it ?
Which is it ?
