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Management Union Representation
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<blockquote data-quote="TakeNoMore" data-source="post: 572378" data-attributes="member: 24053"><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Let me clarify a few things.</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">I meant "level the management playing filed" within UPS, not as compared to FedEx or any other company. I believe all of UPS's management should be compensated fairly for their efforts and their successes. I find it odd that the lower levels of management are taking wage (overall pay and benefit) reductions, while higher levels are getting large increases.</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">I am not suggesting that management needs guidance or representation as it relates to working conditions, hours of work, transfers, pressure, brow beatings or any of the other normal conditions experienced as a management employee with UPS. I agree that this is what management signed up for when they went into management.</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">The concern and intent of my original post was to address the ongoing systematic reduction of wages for the lower levels of management. Admins, drivers, loaders, and higher management are not being subjected to reductions in wages. Low and mid level managers are. </span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Here are some examples:</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Flex Benefits - Originally introduced as a plan to improve health benefits. Plan was good first year. Level of coverge has decreased every year since inception. Cost to management employee has increased each year since inception. To keep out of pocket premium costs under $600 per month, dental, vision have to be dropped and medical has to be reduced to the weakest plan available. More reductions announced this week. Long term disability was paid for by the company. Since the inception of Flex there is no long term disability unless it is purchased by the management employee. Prescription plan has been reduced also.</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Elimination of 401K match of 3% - This equates to a 3% reduction in wages. Union folks should understand that the contribution to the UPS retirement plan is less than 50% of that of an hourly employee. Currently union contribution rates are in the $6-7 per hour range. Management is much less. The 3% match helped make up the disparity, but still fell short of the hourly rate. Management old-timers had a good retirement plan. The current management plan is weak. </span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">No wage increase in 2009 - No wage increase in an economy with an inflation rate of 2.5% equates to a reduction of real wages of 2.5%</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">MIP - Formula was changed. Old formula dedicated 15% of after tax profits to MIP participants based on salary. Fair to all MIP participants. New plan uses an arbitrary reduced formula. Expect the MIP to be very low this year, even though the company is making substantial profits. Under the old plan MIP would have been significantly higher each year since the plan was changed. In addition to reducing the amount dedicated to MIP the award is now restricted, so it not actually fully received till five years after the date of award. Under the old plan the full amount was in the bank shortly after the award date.</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Stock options - Old plan rewarded 18s and up when the stock price grew. When stock price stopped growing a new plan was introduced to better compensate the 18s and up. They receive a grant of restricted stock now. 17s and below receive nothing.</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">New compensation plan for the board introduced this year. Substantial bonus increases.</span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">When you add it all up, low and mid level management has taken a big pay cut while higher levels are getting substantial increases. </span></span></p><p> </p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">401k - 3%</span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">No raise - 2.5%</span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Reduced benefits - appox 5%</span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">Reduction of MIP - approx 5-10%</span></span></p><p><span style="font-family: 'Arial'"><span style="font-size: 10px">MIP awarded as RSU approx 10%</span></span></p></blockquote><p></p>
[QUOTE="TakeNoMore, post: 572378, member: 24053"] [FONT=Arial][SIZE=2]Let me clarify a few things.[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]I meant "level the management playing filed" within UPS, not as compared to FedEx or any other company. I believe all of UPS's management should be compensated fairly for their efforts and their successes. I find it odd that the lower levels of management are taking wage (overall pay and benefit) reductions, while higher levels are getting large increases.[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]I am not suggesting that management needs guidance or representation as it relates to working conditions, hours of work, transfers, pressure, brow beatings or any of the other normal conditions experienced as a management employee with UPS. I agree that this is what management signed up for when they went into management.[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]The concern and intent of my original post was to address the ongoing systematic reduction of wages for the lower levels of management. Admins, drivers, loaders, and higher management are not being subjected to reductions in wages. Low and mid level managers are. [/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]Here are some examples:[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]Flex Benefits - Originally introduced as a plan to improve health benefits. Plan was good first year. Level of coverge has decreased every year since inception. Cost to management employee has increased each year since inception. To keep out of pocket premium costs under $600 per month, dental, vision have to be dropped and medical has to be reduced to the weakest plan available. More reductions announced this week. Long term disability was paid for by the company. Since the inception of Flex there is no long term disability unless it is purchased by the management employee. Prescription plan has been reduced also.[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]Elimination of 401K match of 3% - This equates to a 3% reduction in wages. Union folks should understand that the contribution to the UPS retirement plan is less than 50% of that of an hourly employee. Currently union contribution rates are in the $6-7 per hour range. Management is much less. The 3% match helped make up the disparity, but still fell short of the hourly rate. Management old-timers had a good retirement plan. The current management plan is weak. [/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]No wage increase in 2009 - No wage increase in an economy with an inflation rate of 2.5% equates to a reduction of real wages of 2.5%[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]MIP - Formula was changed. Old formula dedicated 15% of after tax profits to MIP participants based on salary. Fair to all MIP participants. New plan uses an arbitrary reduced formula. Expect the MIP to be very low this year, even though the company is making substantial profits. Under the old plan MIP would have been significantly higher each year since the plan was changed. In addition to reducing the amount dedicated to MIP the award is now restricted, so it not actually fully received till five years after the date of award. Under the old plan the full amount was in the bank shortly after the award date.[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]Stock options - Old plan rewarded 18s and up when the stock price grew. When stock price stopped growing a new plan was introduced to better compensate the 18s and up. They receive a grant of restricted stock now. 17s and below receive nothing.[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]New compensation plan for the board introduced this year. Substantial bonus increases.[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]When you add it all up, low and mid level management has taken a big pay cut while higher levels are getting substantial increases. [/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [FONT=Arial][SIZE=2]401k - 3%[/SIZE][/FONT] [FONT=Arial][SIZE=2]No raise - 2.5%[/SIZE][/FONT] [FONT=Arial][SIZE=2]Reduced benefits - appox 5%[/SIZE][/FONT] [FONT=Arial][SIZE=2]Reduction of MIP - approx 5-10%[/SIZE][/FONT] [FONT=Arial][SIZE=2]MIP awarded as RSU approx 10%[/SIZE][/FONT] [FONT=Arial][SIZE=2][/SIZE][/FONT] [/QUOTE]
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