Management (ERO) Early Retirement Offer

negrosangre

Well-Known Member
Another thought, if a VSO was offered in December and was to go into effect in January, wouldn't it be more expensive? Depending on the terms of the offer, wouldn't there be renewed things like vacation time or other benefits for the new year?
 

tieguy

Banned
Another thought, if a VSO was offered in December and was to go into effect in January, wouldn't it be more expensive? Depending on the terms of the offer, wouldn't there be renewed things like vacation time or other benefits for the new year?

you would normally lose vacations and leeta days along with your hijacked Mip shares if you quit in January. I guess they can leverage those as part of the buyout offer.
 
A

an anonymous guest

Guest
I remember my first Early Retirement Offer in the late 70s in Greenwich...

"Screw this up and you will have an opportunity to use your experience elsewhere."

From the CFO at the time.

Go UPS!
P71
 

seagull4

Active Member
Two managers in our district are eligible to retire at the end of this year. They have decided to work an additional year because of what is going on with their investments and the economy.
 

mattwtrs

Retired Senior Member
Two managers in our district are eligible to retire at the end of this year. They have decided to work an additional year because of what is going on with their investments and the economy.

Let's see, Another year of abuse at the Brown Machine or stay home and enjoy life a little on the frugal side? They should talk to friends that have retired. Enjoy life!

I don't think the economy is going to turn around that fast in the next year!
 

tieguy

Banned
Let's see, Another year of abuse at the Brown Machine or stay home and enjoy life a little on the frugal side? They should talk to friends that have retired. Enjoy life!

I don't think the economy is going to turn around that fast in the next year!

there can be no abuse when you have the silver bullet. :happy-very: whats that you're unhappy with my performance , gee I think i sense some discriminatory actions here. :happy-very:

Seriously thought its something to think about. Financial market is beating everyone. Banks collapsing is something we have not seen since the depression. It could be wise to hold on to the income they make for another year and see where the economy goes.
 

Catatonic

Nine Lives
Seriously though its something to think about. Financial market is beating everyone. Banks collapsing is something we have not seen since the depression. It could be wise to hold on to the income they make for another year and see where the economy goes.

Bingo,
Lot of 54 & 55 years olds thinking this same thought.
I go another year before I am eligible and I am glad I don't have to make that decision right now!
 

rod

Retired 22 years
please- everyone just keep working.. another couple of years and eyes can get me somes of that social security moneys:happy2:
 

Six Sides

Well-Known Member
Retirement postponed a reality, staying past 55. The recent declines in the markets, lack of growth in UPS stock for the last ten years combined with the pension payment will not work for me. Maybe as more decide to stay past 55 that wish of the lump sum ERO will happen.
 
At the rate we are losing management in the operation I'm not sure they need an ERO -- the irony is that when the economy picks up and there are jobs in the market to be had, there will be a mass exodus from my district - seroiusly an informal poll of management and sups has about 56% either currently looking, or roughing out the economic storm in hopes of opportunities outside of UPS on the Horizon...Personally, I think I got another 2 years in me given/ the current pressure/ expectation/ lack of resources/ 14 hour day / finger in the dike environment....If things don't change I will cash in my 15 years and be a 36 year old starting a new career.


I wish you the best. I always felt bad for the guys in your shoes. You have a lot of time and money invested, but the light at the end of the tunnel is too far away to stay with UPS and suffer through the 14-hour days. I quit so I wouldn't find myself in your shoes in five more years. It was one of the best decisions of my life. It was much harder to find another (high-paying) job than I had anticipated. UPS management skills are not as portable as you would hope. Make sure you have quite a bit of ready cash saved up before you leave. Working 14-hour days makes it hard to look for a different job while employed, so you may have to quit in order to find something else.

In my area, a lot of ex-UPS management would end up in retail managment (Home Depot, Target). They said it paid well, but you have a lot of the same drawbacks as UPS: demanding work schedule, excessive management hierarchy above you, limited freedom to manage your own success. With the economy lately, I doubt Home Depot and Lowe's are expanding as much as they used to be.

I've heard good things about Netflix and Amazon. Your UPS operations skills are transferrable to these companies. Check to see if either of them have a distribution center in your area.

Best of luck.
 
Many of the Baby Boomer Sup's and Mgr's I've spoke with would be very willing to take an ERO. We are wondering why one has not been offered this year with an out date of 1-2-09. Anyone with info please reply...
 
I think UPS finally learned their lesson after their last attempt. 1) it is too expensive. 2) The people you want to take it DON'T. 3) The people that you don't want to take it - but happen to qualify - DO take it.

The people you wished would leave - you're stuck with. The people you wish would stay - you're paying to go somewhere else.

I'm sure someone sobered up and caught on. If not - any day now... I'd bet.


Next step you'll likely see is them raising the retirement age to 62. It probably should be 65 but they'll go at it half-@ssed and make it 62. Just watch.

The reason UPS loses the people they don't want to lose is due to the fact that they wear out those that get the job done by giving them the tough jobs. Instead of dealing with the non-performers, they rely heavily on those they can count on.

Raising the retirement age will make things worse. There are many (not all) over 55 employees who already stick around because they have nice jobs with no pressure. No incentive to retire. I am over 50 and would take an early buyout in a heartbeat if the price was right.
 

Bad Gas!

Well-Known Member
I'm excited to see who leaves in mgt in our building.Some I wish well but some....don't let the door hit you on the way out!
 

HEFFERNAN

Huge Member
I don't know how raising the retirement age would be an effective idea. Granted it keeps the retirement fund farther away but how many jobs can a 60 year old do at UPS. Besides feeder, car wash and clerk, there are no easy jobs in this company. How many more injuries do you think we'd expect when a 60 year old is driving full time.

I would think they would want to clear older more vulnerable people out of the way. Remember this 60 year old just worked 30 plus years most likely in this meat grinder company.
 
I don't know how raising the retirement age would be an effective idea. Granted it keeps the retirement fund farther away but how many jobs can a 60 year old do at UPS. Besides feeder, car wash and clerk, there are no easy jobs in this company. How many more injuries do you think we'd expect when a 60 year old is driving full time.

I would think they would want to clear older more vulnerable people out of the way. Remember this 60 year old just worked 30 plus years most likely in this meat grinder company.
Well I can tell you that for a 58 year old with just under 20 years driving that the injuries come more often and take longer to heal. For me to get 30 years in I would have to keep driving the brown box to 2018, I would be 68 no way could that even be feasible. In my physical condition I don't believe I could make 25 years. So, next June, instead of brown I will be wearing the color of GONE.
 
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