UPS Pilot Furloughs suspended



UPS has suspended plans to furlough up to 100 pilots, thanks in large part to a favorable response to voluntary leave and separation offers.

We had hoped the voluntary leave and separation offers would be effective and they certainly have been, said Airline Operations Manager Rick Barr. The response has allowed us to suspend all furloughs for the foreseeable future.

A total of 36 pilots have asked to participate in the Voluntary Separation Plan and the Voluntary Leave of Absence Plan. That number, when combined with the 76 UPS pilots now on active military duty and a handful of promotions, is sufficient to allow suspension of the furlough plan, Barr added.

Last month, the company projected it might have to furlough for the first time in the companys history up to 100 pilots in 2003. The furlough plan was driven by changing lift needs, including the continued modernization of the UPS jet fleet, which is increasingly comprised of two-person cockpits rather than three person.

The first 19 pilots were identified for furloughs by the end of March, although the company made clear it hoped to avoid that step through voluntary leave and separation programs.

We had to make a tough call last month based on the information we had at hand, but circumstances changed quickly, said Barr. Were glad this worked out to keep everyone employed.


For any of the pilots or any one considering retirement, if you have company stock in your retirement plan be sure to check into the rules

The IRS web site has some good imformation on rollovers when appreciated stock is involved.

You will want to look for publication 554 and publication 575.

Pay close attention to "NUA" Net Unrealized Appreciation.
Motley Fool also has some good info on this.
( Keep the $ away from uncle sam )