Rumors of buy out?

Damon77

Well-Known Member
Why would they pay you to go away? How is that cheaper than making your lives hell so you’ll just go away?

Because the people who have been here for 20+ years have had their lives made a living hell at slow increments, so we're used to it.
 
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zeev

Well-Known Member
I agree the difference is that the freight has been removed overnight so they need to reduce workforce quickly
 

bacha29

Well-Known Member
Q3 earnings report due out Tuesday after the bell and it's expected to be bad news and given that the stock went below $100 for a couple of days, well just about anything should not come as a surprise.
 

MrFedEx

Engorged Member
a credible source told me because of the drop off in Express freight a buyout is coming for senior employees.

Why buyout a non-union employee when you can just starve them out instead?

It's pretty unusual for someone without a contract to get a buyout offer.
 

zeev

Well-Known Member
Why buyout a non-union employee when you can just starve them out instead?

It's pretty unusual for someone without a contract to get a buyout offer.
You are right but they have moved freight to Ground already which is the only reason things will happen fast because the stock has been obliterated for the last 2 years and come earnings report Tuesday the carnage will be worse. P.s. Jeff Bezos has no interest in this dog.
 

bbsam

Moderator
Staff member
Because the people who have been here for 20+ years have had their lives made a living hell at slow increments, so we're used to it.
To think that after 20 years you haven’t learned how they can turn up the heat whenever they want...
 

vantexan

Well-Known Member
To think that after 20 years you haven’t learned how they can turn up the heat whenever they want...
And to think that you think you understand how Express operates. All through the super lean raise years the vast majority of topped out employees stayed unless they retired or got fired. Drop in the bucket compared to those that put in 10+ years with no chance of top out in sight. And the twentysomethings in the last ten years have had a very high turnover rate as soon as they realized they had been deceived by their hiring mgr. If FedEx is going to dislodge as many higher paid older couriers as possible without triggering a huge class action age discrimination lawsuit they're either going to have to offer some kind of financial incentive or just wait them out. As the new plan with Ground contractors takes off there are going to be a lot of well paid older couriers getting free money with the 35 hr guarantee. It may be, I don't know, that if they were hired and have worked all these years with that guarantee FedEx can't just eliminate it. Might can for newhires, but there might be a legal reason the guarantee won't go away. If so if there's one thing FedEx hates is giving away free money to couriers. And may be stuck doing that for a decade or more to the higher paid ones. So maybe not call it a buyout, but there may be a financial incentive to prompt many couriers to bail because they aren't going to get many hours anyways.
 

bacha29

Well-Known Member
You are right but they have moved freight to Ground already which is the only reason things will happen fast because the stock has been obliterated for the last 2 years and come earnings report Tuesday the carnage will be worse. P.s. Jeff Bezos has no interest in this dog.
Signs of a slowing economy have been popping up for the past number of weeks and the virus is simply the frosting on the cake. The question is will certain emergency powers be granted to the transportation sector and how will companies use those powers?

Remember, Fat Freddy said that he will make his little company the industry's lowest cost carrier. Now if he can find a way to better enable him to completely remake his company through the use of those powers and can do it in a PR acceptable way why wouldn't he do it?

What is for certain is that the days of the parcel and letter business being to a modest degree a somewhat prestigious and professional occupation are long gone.
 

bbsam

Moderator
Staff member
And to think that you think you understand how Express operates. All through the super lean raise years the vast majority of topped out employees stayed unless they retired or got fired. Drop in the bucket compared to those that put in 10+ years with no chance of top out in sight. And the twentysomethings in the last ten years have had a very high turnover rate as soon as they realized they had been deceived by their hiring mgr. If FedEx is going to dislodge as many higher paid older couriers as possible without triggering a huge class action age discrimination lawsuit they're either going to have to offer some kind of financial incentive or just wait them out. As the new plan with Ground contractors takes off there are going to be a lot of well paid older couriers getting free money with the 35 hr guarantee. It may be, I don't know, that if they were hired and have worked all these years with that guarantee FedEx can't just eliminate it. Might can for newhires, but there might be a legal reason the guarantee won't go away. If so if there's one thing FedEx hates is giving away free money to couriers. And may be stuck doing that for a decade or more to the higher paid ones. So maybe not call it a buyout, but there may be a financial incentive to prompt many couriers to bail because they aren't going to get many hours anyways.
It’ll probably begin with crappy split shifts for people who’ve been around for 20 years.
 

vantexan

Well-Known Member
It’ll probably begin with crappy split shifts for people who’ve been around for 20 years.
We were guaranteed 17.5 hrs for part-time, 35 hrs for fulltime, when I was hired in '86. But if a mgr let a courier get guaranteed pay he'd better have a very good reason for the district director. Knew a courier that for years was constantly giving away freight and only working about 32 hrs a week as a fulltimer. They finally found a way to fire him.
 

MrFedEx

Engorged Member
I heard Bezos has his checkbook out and is sharpening his pencil

That's a possibility, especially since Amazon business is actually increasing because so many people are shopping online in the midst of the Covid-19 panic. Bezos could buy FedEx for cash and hardly even feel it.
 
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