Unless "pretzel_man' confirms a buyout for management ,with details,for 2010,it is only a rumor. He certainly was accurate with information in 2008.
If they just did away with the early retirement @ 55, and said "go now or stay until you are 62", some of those sticking around might reconsider. It wouldn't cost UPS anything.
If they just did away with the early retirement @ 55, and said "go now or stay until you are 62", some of those sticking around might reconsider. It wouldn't cost UPS anything.
I'm offering a management buyout to UPSSOCKS.
I'll give you $50. to go away
$50? Hell, I'll bump that to $100!
It would be interesting to explore the idea of "partial" retirement, whereby a management person would have the option of staying on in a part-time capacity and maintaining their medical benefits. I could see where we could use such people during peak or for other special purposes...they would draw a partial pension and maintain medical coverage, while being free to pursue other options.
I predict something is done for those 55 plus - a financial nudge to move them on - of the management folk I know 55 or above they are hanging for 1-2 more years for a boost to their pensions - or for thier 401K and UPS Stock to re-inflate....the latter will happen - I think the company will try to bridge the pension gap.
At least in GA:Here is a question to management close to retirement: Are your part-time years credited fully toward your 30 or 35 year pension benefit or are they pro-rated to the hours worked for those years you worked as a part-timer (union or management)?
The buy out should be like union people, just layoff the partners that are not performing. The shareholders are taking a beating from UPS being top heavy. We have to many chiefs and not enough indians and the stock price shows it. Why pay a group of "deadwood" to retire when we can just lay off or fire. The stock will rise to FDX prices if we can pay people that work. Look at the Air Group bld, we have retired aircraft but no one in the DC8 or 727 work groups were layed off, just moved them over to other groups that were already overstaffed. We are overstaffed with high paid engineers that have their workload reduced to more efficient airliners but none were layed off just moved to other overstaffed groups.
Those that have been laid off were not "performing"?
Laying off people will increase our stock price?
That's been the official memo from up top. Have you heard differently?
Yes. Not because of any sizable savings, but because the street loves to see layoffs. It almost always boost a companies stock price because it translates to "cost savings" and management by denominator. The street loves denominator management styles. Instead of real value added, which is slow and takes time, denominator styles seek to cut cost, which results in fast profits. Not many day traders care about long term profits. They arent UPS stock holders, they are stock flippers. It makes sense they would prefer fast profits, not long term strategies. I'm glad to see we are interested in appeasing them though. Sure sets us up for long term success.
The number would have to be closer to 6000 though, not 60 for the street to take notice.
Unless "pretzel_man' confirms a buyout for management ,with details,for 2010,it is only a rumor. He certainly was accurate with information in 2008.