Buyout Q&A, Jan.22nd Update

[vantexan]

Keep trying? Keep trying what?

To scare impressionable young minds....

Really enjoying the view from the driver's seat over at Ground, huh?

 

[IsItME]

Can you find out if this will be offered to the couriers? No one is talking, or no one knows.

I believe those in the know have been warned and have done a great job keeping this quiet. I've tried and failed to nail down specifics. If I hear something concrete, I'll let you know. It's going to be a long couple weeks.

 

[bbsam]

To scare impressionable young minds....

Really enjoying the view from the driver's seat over at Ground, huh?

I find it hard to believe that this is my doing. You guys at Express are the ones talking about targets on your backs and three letters and such. If anything, the young minds may see Ground as something as an option better than unemployment.

 

[bbsam]

I believe those in the know have been warned and have done a great job keeping this quiet. I've tried and failed to nail down specifics. If I hear something concrete, I'll let you know. It's going to be a long couple weeks.

van would like you to stop posting scary things.

 

[Goldilocks]

For many the future would be bleaker without Express, that's why. You are in the enviable position of being near full retirement age and got most of a 25 yr pension coming to you. Plus a tidy lump sum at 13% for the last 5 years in the PPP. Many have no choice but to hang on because 35 hrs a week, especially at top pay, is better than nothing. And it's almost certain that if they do offer buyouts to couriers only a few per station, relative to the station's size, will be allowed to take a buyout. I have about 6 or 7 ahead of me in seniority in this small station and none are willing. If the company were to clear out the willing with a buyout the end result would be larger areas for the remaining to cover, and they'd get their hours. Might not get much OT, but they'll do better than 35. If they don't offer buyouts the result will be the same. We'll get 35 until a few get frustrated and quit, then we'll be back to 40. This job is always in flux, and anyone that says it will always be this way or that way is either inexperienced or disingenuous. There's not much of a future true, but until someone can show me where 10's of thousands of older couriers are going to find nearly as good jobs, forget better, in this economy I'll take my chances.

True...

 

[MrFedEx]

To scare impressionable young minds....

Really enjoying the view from the driver's seat over at Ground, huh?

Fred is in the driver's seat...bbsam just thinks he is....for now. Just wait, Uncle Fred is gonna' drive you home hard.

 

[bbsam]

Fred is in the driver's seat...bbsam just thinks he is....for now. Just wait, Uncle Fred is gonna' drive you home hard.

are you trying to say scary things again?

 

[vantexan]

are you trying to say scary things again?

It wasn't that you were saying scary things, it's that you seemed to get a kick out of telling Express couriers that Ground was their only recourse. Just kind of rubbing it in.

 

[bbsam]

It wasn't that you were saying scary things, it's that you seemed to get a kick out of telling Express couriers that Ground was their only recourse. Just kind of rubbing it in.

hardly. Seems many are convinced they have no recourse.

 

[The Mayor]

There is a new memo out regarding the buyout. Again, it states that you need 5 years of continuous service and those who are eligible will receive an email early in Feb. A numerical cap on some departments, locations, organization codes and job codes is in place. Part-timers are eligible.

Here's the key statement, which IMO just re-states what we already know, and that is that some groups will be "carved-out", which means no participation in the buyout. Given their previous statements, this seems consistent with no buyouts for couriers. If more employees request buyouts than are available under the applicable cap, priority will be given to those with the longest FedEx continuous service. Every highly placed management talking head I have heard parrots the line that no positions will be bought-out that require backfill hiring, and that seems targeted at couriers. A MEM VP I heard speaking back in September said definitively that NO couriers would be offered buyouts. When the Ground switchover occurs, that may no longer be the case, and could leave the door open for couriers to get an offer to leave. The whole thing is so open that concrete answers are impossible at this point.

All of this is written in intentionally vague terms. The fact that they don't have a firm date in February makes me think they are still working out the details and have left themselves an out wherever they need one.

I actually can't believe that I may have some more info here than Mr. FedEx. If you go on to the company intranet, a Q & A section is available with all of the details so far for "the buyout" including all dates, formulas of calculation, etc... Since I'm sure no one wants to go on and read thru it (like I did) I'll do a quick break down of the 97 point areas with the greatest details.

1. Watch for your e-mails on Feb. 15th. This is when you will be notified if you have been selected for the buyout. Everyone with at least 5 years of seniority "qualifies," but probally will not likely be chosen. Yes you can also offer to volunteer for a buyout if you are not notified.

2. Once notified that you have been selected, you have 45 days to accept. Once you sign and accept, you only have 7 days to retract if you change your mind.

3. Departure dates are: May 31 2013, November 2013, and May 2014.

4. Monies recieved from the buyout are counted as taxable income, and not counted towards retirement income. You will also be paid vacation time, personal time, and FH. No sick days that I saw.

5. Once you leave the company, you CANNOT be re-hired by ANY OTHER FEDEX COMPANY.

6. The formula for calculation is as follows. Take your last 4 paychecks from the month of NOV 2012 and add. Then divide by 4. This gives you your average weekly pay. Then take your years of service as of NOV 2012 and multiply by 4, then multiply that # and your average weekly pay. This is your payout...(or roughly 2 years salary).

Example: Average weekly pay= $970.
Years of service= 19 years 3 months (20 years X 4)
970 x 80 =$77,600

7. Monies will be paid out 45 days after your departure date.

8. Contrary to what most have been saying, I actually think that couriers will be offered the buyout. All of what I have been reading states that they will be going by "classifications." Even if they do offer it too everyone, it will be very limited to those with the highest seniority to see how many they can get to leave. I also think that this will go at least 2 to 3 rounds of offers. But this is just my opinion because it depends on how many people bite on the buyout and actually leave depending on their classification.

Remember, we employee almost 245,000 here in the U.S. and by far, most of those are couriers. It only seems to make sense that they would want to reduce numbers since volume is down (allegedly). Let the questions now begin............

 

[Mr. 7]

How does FedEx know my email address?
I never log onto the company email system.

 

[The Mayor]

The company gave every employee and e-mail address...it's your first name.last name @fedex.com in the internal system.

 

[Route 66]

5. Once you leave the company, you CANNOT be re-hired by ANY OTHER FEDEX COMPANY.

good god!, what sort of sick twisted mind would even entertain such a thought?

 

[EffOff]

The company gave every employee and e-mail address...it's your first name.last name @fedex.com in the internal system.

Actually, FedEx did away with employee e-mailboxes some time back. I don't know what the OP meant by us getting an email about the buyout.

 

[59 Dano]

5. Once you leave the company, you CANNOT be re-hired by ANY OTHER FEDEX COMPANY.

You can, however, drive for a Ground contractor.

/back to lurking

 

[bbsam]

You can, however, drive for a Ground contractor.

/back to lurking

I still say you could be the contractor since the company contracts with the corporate entity, not the individual. In effect, the individual is a signing officer of the corporate entity.

 

[Goldilocks]

Actually, FedEx did away with employee e-mailboxes some time back. I don't know what the OP meant by us getting an email about the buyout.

You can use webmail. Go to the homepage and type in "webmail", then your LDAP password.

 

[I Am Jacks Damaged Box]

/back to lurking

Do you even know that what you wrote makes absolutely, positively, zero sense?


"End back to lurking"...really dude? Brackets are your friend. Please refrain from "speaking" Hypertext markup until you're at least semi-fluent.

Regards,

Nerds Everywhere

 

[STFXG]

/back to lurking

Do you even know that what you wrote makes absolutely, positively, zero sense?


"End back to lurking"...really dude? Brackets are your friend. Please refrain from "speaking" Hypertext markup until you're at least semi-fluent.

Regards,

Nerds Everywhere

#whathesaid

 

[I Am Jacks Damaged Box]

In other news, I just posted to Dano without the aid of a picture.

I wonder if it is "message received" or "headscratcher"?

I am thinking the latter.