MIP will be gone in 3 years or less

Discussion in 'UPS Partners' started by Fourscoreandzeroyears, Feb 4, 2020.

  1. The RSU changing to one year was the first step. Company does not want to be burdened with owing money after MIP ends. Todays 40% was step 2. MIP ending is final step.
    Wall Street can't stand MIP. Cash should go to investors not Management. It was a great incentive for a private company but does not work in a wall street environment
     
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  2. PAUPSGuy

    PAUPSGuy New Member

    Not saying you're wrong but there are incentive programs in place in other logistics companies that make UPS look like a lemonade stand. The umbrella approach where they blindly reward everyone worked for them 20 years ago. It will not withstand the test of time though. Merit-based reward structures are here to stay. They may dry up at UPS but money is a pretty good tool to motivate and simultaneously weed out leaders chasing cash, not growing their business and people. Maersk and Amazon have very good compensation for high rising managers. You have to earn it though, they aren't handing you checks for 50k if you weren't profitable and safe.
     
  3. BROWN skid Mark

    BROWN skid Mark New Member

    Agreed. In addition the company wants you to sell your stock so they don't ave to pay the additional MIP bonus. The shorter vesting equates to you selling it quicker and not requiring the company to pay the additional MIP. Also, the company recognized that by accelerating the RSU payouts the compensation for those specific years are inflated. This unintended inflated RSU compensation could result in a higher FAC (final avg compensation) pension calculation. So, kick them in the balls with 40% MIP and everything looks normal again.
     
  4. TearsInRain

    TearsInRain IE boogeyman

    MIP is pretty meaningless in a public company

    Might as well just give me my cash and e-card thanking me for another year of service and I’ll be on my way
     
  5. detmaintainer

    detmaintainer Detroit Maintenance Rat

    Naught X Naught = Naught

    "Jethro Bodine"
    Master Mathemetician Next "Minister of Finance" at UPS
     
  6. ppHATE

    ppHATE New Member

    Dont blame Wall Street for that if it does not happen. UPS’ MIP program isn’t unique and is actually one of the stingiest out there. Ask your former coworkers who moved on.. they’ll tell you.
     
  7. I have been lurking

    I have been lurking On the spectrum

    Coming soon: H1B management
     
  8. BSWALKS

    BSWALKS Almost Honest

    Step three...more UPS management jumping ship for Amazon.
     
  9. Future

    Future Victory Ride

    I heard they have been pilfering them the past few years
     
  10. detmaintainer

    detmaintainer Detroit Maintenance Rat

    I look for UPS to cut management retiree healthcare soon Union will be next. There is no obligation to give retirees healthcare for non-union and the union retiree healthcare is only guaranteed until the next contract.
     
  11. Bamboozled

    Bamboozled Member

    News Flash. Non Union people promoted after 2008 dont get any Retiree Healthcare. In 2023 the Healthcare Credits stop accumulating for Grandfathered Non Union people.

    However people Grandfathered in with accumulated credits cant have them taken away. They are applied towards the purchase of retiree healthcare...

    I feel sorry for the younger generation. They will have nothing. Why would anyone stay? No retirement, no recognition, no job satisfaction, no life, no happiness. Absolutely nothing.....Just Disrespect.....
     
  12. Scuba_Steve

    Scuba_Steve Member

    Shame UPS could not be let those management who have contributed many years of hard work to the company and with their retirement freezing out in 2023, will all be retiring soon, just go out gracefully with what is already significantly reduced benefits.

    Instead the company decided to kick them in the ass as they went out the door with a big "Thank you very little, we will try to screw you as hard as we can get way with".

    This will forever change my view of the company, and my entire family for generations to come.

    Imagine all the future customers this could lose UPS as children and grandchildren etc of the people being screwed now start to run businesses and make decisions on which service provider to use.

    Could be like a quarter million future customers lost over future decades when it is all done, due to this short thinking and penny pinching.
     
    Last edited: Feb 10, 2020
  13. PASinterference

    PASinterference Yes, I know I'm working late.

    Loyalty is gone. This includes shippers and bitter employees. Move on and realize it's all about profit and stockholders. Cash your check, rinse and repeat.
     
  14. 542thruNthru

    542thruNthru Well-Known Member

    Because they only have to do any work for a out 3 hours a day. That's why they stay.