FedEx Freight | Severance

Hourly rate of pay X 40hrs X minimum 12 weeks pay, no more than 40 weeks pay.
Then add 1500.00 transition allowance, then multiply sum times 25% for taxes, then deduct that amount from the sum, and there you have it. Refer to your merger handout for the amount of weeks pay you will get by the number years of service you have. Hope this helps.
 
No its not your hourly rate, its your vacation rate. 1/52 of your gross this year, times how ever many weeks you have coming. Plus the 1500. Its also not taxed the same as a payroll check. Since this is considered a bonus check the tax rate will be around 33 percent. Happy Trails TP
 
The way it was explained to us is 40 hours for every year of service for city drivers, and 1/52 average of your gross for road drivers x years of service. It boils down to a weeks vacation pay for every year of service, depending on if your a road driver or city driver.
 
sev pay

im reading it now it plainly says 12 wks pay minimum,and i spoke with HR ystdy they said 40 hrs x 12 wks at your currently hrly rate.See its simple its in black and white,
 
Are you guys aware that the redshirts are getting a minimum 20 weeks and a maximum of 40 weeks plus 5k transition. We as drivers only get a min 12 weeks, max 20 weeks, and only 1.5k transition. Whats up with that?
 
Are you guys aware that the redshirts are getting a minimum 20 weeks and a maximum of 40 weeks plus 5k transition. We as drivers only get a min 12 weeks, max 20 weeks, and only 1.5k transition. Whats up with that?

Your numbers are wrong, hourly employees get a max of 40 weeks. Besides, we are paid on our vacation rate.
 
it is taxed the same as payroll and it is not considered a bonus check it is an assistance check read the laws there mr know it all
 
rico said:
it is taxed the same as payroll and it is not considered a bonus check it is an assistance check read the laws there mr know it all

Take your meds OK? To whom are you talking to?
 
Sevrence checks will be taxed at 27% according to the Ohio unemployment web site our TM at ccn said they changed it to 25% after January 1st
 
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