UPS Plans to Cut Non-Driver Jobs to Mitigate Union Labor Costs

[textat3]

10-11k pension? Ruh roh……

Yea dude…google 639 Pension Fund….the best in the country. Guys are currenly leave with over 9k for full 30 year pension. If you work after you turn 60, you earn your pension credit for every year worked and your total amount is raised 6% per year. It is called super bonus or something. We Ball out here. 60 hr weeks the norm. Parking lot like a Benz dealership.

 

[catstalking]

What he was telling you is that your 401k is a horrible investment compared to a pension. If the stock market crashes your 491k is ruined.

if the Fed crashes, your pension is gone too

when the Fed ends up paying off the debt with financial repression and they need someone to buy trillions in worthless bonds, guess who will be forced to? your pension fund

 

[MattM]

Yea dude…google 639 Pension Fund….the best in the country. Guys are currenly leave with over 9k for full 30 year pension. If you work after you turn 60, you earn your pension credit for every year worked and your total amount is raised 6% per year. It is called super bonus or something. We Ball out here. 60 hr weeks the norm. Parking lot like a Benz dealership.

Does that pension plan not cap out at 40hrs x52 or 2080 yearly earned hours? My western does it seems.

 

[Over70irregs]

A stock invested 401(k) is "ruined" for maybe 3 years. Then it goes roaring back up so fast it outpaces inflation, giving the account holder an automatic COLA. I hope you're investing in one, in addition to your other holdings.

Better get 15% return otherwise real inflation is like pacman.

 

[Over70irregs]

Yea dude…google 639 Pension Fund….the best in the country. Guys are currenly leave with over 9k for full 30 year pension. If you work after you turn 60, you earn your pension credit for every year worked and your total amount is raised 6% per year. It is called super bonus or something. We Ball out here. 60 hr weeks the norm. Parking lot like a Benz dealership.

Sustainable? Full 30 years driving or combo with PT? Peer 80? Just looked it up. Soooo no Peer80 I believe like the West. You have to be 60 yo? Seems like an insurance mathematical probability of early demise pension? ( Not trying to offend. I have a high skeptic bar against UPS and the union )

 

[Brownslave688]

The new contract may be good for some but for others, perhaps not so much.

• The company plans to discuss “headcount reductions” at an investor-day meeting in March
• UPS cited “material productivity opportunities” at a breakfast meeting on Thursday with analysts
• The job cuts would allow UPS to lower labor costs beginning in year two of the new labor contract, and the overall union workforce of about 300,000 currently may be lower at the end of the five-year contract

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And we couldn’t even get inflation raises. Pathetic.

 

[Brownslave688]

The new contract may be good for some but for others, perhaps not so much.

• The company plans to discuss “headcount reductions” at an investor-day meeting in March
• UPS cited “material productivity opportunities” at a breakfast meeting on Thursday with analysts
• The job cuts would allow UPS to lower labor costs beginning in year two of the new labor contract, and the overall union workforce of about 300,000 currently may be lower at the end of the five-year contract

BNN Bloomberg – Canada Business News, TSX Today & Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.

www.bnnbloomberg.ca

And we couldn’t even get inflation raises. Pathetic.

 

[Brownslave688]

Considering a 401k is all out of pocket and the pension pays anywhere from $9-$16/hr worked, I don’t see how the two are comparable in any sense of the word.

Rough estimates has my pension valued some 10-20 times higher than my 401k
My 401k is worth one year of what my annual pension distribution is worth

One would need to go beyond maxing out their 35% 401k to get within the realm of what a pension pays out.

The only way you can compare is if the company was putting the money directly into your 401k instead of your pension. Which yes would be much better.

Simply saying yes I want a 401k instead of a pension is apples to oranges and idiotic.

 

[Arizax2]

that's not at all what IE does; maybe 30 years ago.....

Ya that was a weird post to read. IE doesn't do that at all

 

[catstalking]

Better get 15% return otherwise real inflation is like pacman.

that's why you buy bitcoin

 

[PT Car Washer]

And we couldn’t even get inflation raises. Pathetic.

The only way UPS is going to cut inside Union jobs is by hiring more PT sups to perform Union work.

 

[catstalking]

The only way UPS is going to cut inside Union jobs is by hiring more PT sups to perform Union work.

automation

why would I have a sup or an hourly sort work that a machine can do perfectly?

 

[PT Car Washer]

automation

why would I have a sup or an hourly sort work that a machine can do perfectly?

Perfectly? LOL

 

[MattM]

The only way you can compare is if the company was putting the money directly into your 401k instead of your pension. Which yes would be much better.

Simply saying yes I want a 401k instead of a pension is apples to oranges and idiotic.

Do both, stocks, and a private IRA. there’s no losing then lol.

 

[Over70irregs]

that's why you buy bitcoin

Nice try 3 letter agency…..

 

[...]

automation

why would I have a sup or an hourly sort work that a machine can do perfectly?

They tried to automate the small sort in the hub I worked at and ended up needing more employees up there than they had before.

 

[DOK]

The new contract may be good for some but for others, perhaps not so much.

• The company plans to discuss “headcount reductions” at an investor-day meeting in March
• UPS cited “material productivity opportunities” at a breakfast meeting on Thursday with analysts
• The job cuts would allow UPS to lower labor costs beginning in year two of the new labor contract, and the overall union workforce of about 300,000 currently may be lower at the end of the five-year contract

BNN Bloomberg – Canada Business News, TSX Today & Interest Rates

Get the latest Canadian business news, TSX updates, interest rates and Bank of Canada coverage. Explore stock market investing and get expert financial insights on investment portfolio strategies.

www.bnnbloomberg.ca

Do they mean porters, etc or management positions?

 

[catstalking]

They tried to automate the small sort in the hub I worked at and ended up needing more employees up there than they had before.

i don't understand, what do you mean they tried? there haven't been any SLS installed and then removed

no SLS installed has ever required more employees than previously, and you gain a HUGE gain in PPH and most importantly you get a lot more flexibility in destination bags built

 

[catstalking]

Perfectly? LOL

better than a human, don't dodge that your point was wrong

 

[...]

i don't understand, what do you mean they tried? there haven't been any SLS installed and then removed

no SLS installed has ever required more employees than previously, and you gain a HUGE gain in PPH and most importantly you get a lot more flexibility in destination bags built

I'm just telling you what happened.