Pay more, expect more.

Discussion in 'FedEx Discussions' started by slowdriver, Dec 20, 2015.

  1. slowdriver

    slowdriver Member

    This is somewhat of a to whom it may concern type post, not directed at anyone...

    I just want to commend fedex for coming around on the pay raise situation on the express side, watching topped out drivers doing the same thing as me for more than a decade really dragged down my moral, the unbeatable retirement (Vanguard 401k + pension) was the only thing that kept me around, waiting, and hoping. It wasn't just me though, but company wide, a lot of employees had the feeling of not caring anymore, I saw it first hand as I've visited different stations over the years.

    Henry ford, had the right idea to pay his employees more than market level, because he could expect more in return, a win win situation. No one wants to lose a good paying job, they could be proud of.

    I remember when I first started back in 2003, most of my coworkers worked very hard to get the job done, because the pay + benefits, where exceptional, I watched that moral gradually decline, until recently, and it seems people are beginning to care again, especially now during peak, people are going above and beyond, and doing whatever it takes to get the job done, just like when I first started at fedex.

    I hope the planned, pay scale remains in effect, because the productivity and moral will continue to rise as the pay does, and I also hope this planned pay scale isn't reneged on, because the shock of taking it away, combined with taking away any hope of making decent money, and retiring reasonably well, may be taking away the last and only thing keeping people here...
  2. bacha29

    bacha29 Well-Known Member

    Slowdriver I am happy to hear that you are experiencing something in the way of improved compensation but not to burst your buuble take a look at the Q2 operating results for the entire company that were released last week. You will see that Xpress volume was down and it's barely paying it's bills. On the other side Ground volume was up 9%. It's revenue contributuion was 31% of the corporations total revenues. However 84% of the corporations total profits came courtesy of Ground 31% revenue contribution, It is not a relection on you personally but these are the facts. You talk about a 401K plan,well if you have Fedex stock in the fund, keep this in mind ,if it wasn't for Gound istead of a $150 stock it would be a $60 stock
  3. slowdriver

    slowdriver Member

    Two words, sandbagging profits... I hold VWENX less than 1 percent fdx...

    MAKAVELI Well-Known Member

    Unbeatable retirement? Are you freakin serious? :confused:
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  5. Rhoderunner

    Rhoderunner Active Member

    That unbeatable retirement that they just made you wait 2 more years to obtain. Thanks for ANOTHER take-away Fred
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  6. slowdriver

    slowdriver Member

    Wait a minute guys, I thought companies do what's in the best interest of the people! More tax breaks for the rich!!! Go trump!! Lol
  7. Route 66

    Route 66 Bent Member

    Exactly....unbeatable retirement? - it's looking more and more like unattainable, unsustainable retirement
  8. MrFedEx

    MrFedEx Engorged Member

    Yes, what about the bump to age 62 letter we all received? I notice FedEx says it was required to make this change, but they don't say who required it. Are they required to add 2 years so they can screw us deeper, or have there been changes to ERISA or other government administrative agencies? One would think they would cite the source for the change.
  9. MrFedEx

    MrFedEx Engorged Member

    Anybody who thinks we have a good retirement plan deserves to live in a van down by the river, or maybe a cardboard box.
  10. bacha29

    bacha29 Well-Known Member

    What was heard not long ago is that chatter around Congress is that after immigration legislation is done then pensions are next up. Too many 401k's out there with employers not contributing anything to them, too many people with too little set aside for retirement . The expected result will be an even larger demand for government services for empoverished elderly.
  11. BigTex61

    BigTex61 Active Member

    Unbeatable retirement? You can't be serious!
  12. bacha29

    bacha29 Well-Known Member

    Bad as it seems and I know it's unfair but look at Ground"contractors".Buy you're own truck according to G specs. Bear all the expense of running it, buy your own health insurance, fund your own pension and pay both ends(employer/employee) of social security /Medicare tax.
  13. bbsam

    bbsam Moderator Staff Member

    Or quit and go online and whine about how bad a deal it is.;)
  14. slowdriver

    slowdriver Member

    It's unfortunate that all the stock buybacks which coincidently take place on the exact date as when executives exercise their stock options, have put such a heavy burden on the company...
  15. vantexan

    vantexan Well-Known Member

    "Exceptional" implies that it stood out as much better than the industry overall. By 2003 topped out employees made considerably less tha UPS drivers and mid-range employees were starting to realize they weren't going to reach top pay for decades. There's nothing special about the new pay plan either. It's the most they are willing to do that will retain employees. If they could keep people for less then that's what they would pay.
  16. bacha29

    bacha29 Well-Known Member

    bbsam: Being accused of being a "whiner" is a label I will proudly wear if that's what it takes to bring to the forefront the risks, the pressures, the expectations the liabilities,the endless contract breaches and reinterpretations that a prospective FXG IC/ISP would have to contend with not just the overstated rewards.
  17. MrFedEx

    MrFedEx Engorged Member

    Here's the exact language from the letter extending the retirement age to 62. "FedEx is required to make this change to the Pension Plan. The change ensures that the Pension Plan complies with the requirement that a plan's normal retirement age not be "earlier than the earliest retirement age that is reasonably representative of the typical retirement age for the industry in which the covered workforce is employed". Applicable regulations allow the plan to adopt a normal retirement age of 62 to comply with this requirement".

    Whose requirement, FedEx? Is this the SSA? Why not tell us? I smell a rat, and his name is Smith.
  18. MrFedEx

    MrFedEx Engorged Member

    I agree with your comments about Henry Ford, but FedEx is waaay behind the curve in terms of retirement, pay, and benefits. Anything they give you will only bring them (and you) to a point you probably should have been at 15 years ago. Plus, whatever you get, will be offset by a takeaway somewhere else, so your net gain (as always), will be zero.

    You sound like a nice guy. Fred Smith is not a nice guy, and he will do everything he can to pick your pocket. Always be aware of this, and you'll figure it out someday.
  19. slowdriver

    slowdriver Member

  20. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Our (Upstate NY Teamsters Pension Plan) normal retirement age is 65.

    We are required to have at least 30 years of service and be at least 55 to qualify for a full pension.