Yellow | %10 giveback poll

[exyrcrd]

What you are reffering to is that after June their pay cut will become 5% and they will get 3% match to their 401k. They are still paying their own medical, they still have frozen pensions, they will not be getting bonuses or raises.

We are only giving back 10% on our wages, and getting the contracted raises each 1st of April (at 10% less). I think this is how they figured that we would all share an equal sacrifice.

Maybe Im wrong but at my meeting it was explained they would be taking not equal sacrifice! But an total payroll cut of 10% for the life of the contract. or we all snap back. Hmm

 

[Animo916]

Maybe Im wrong but at my meeting it was explained they would be taking not equal sacrifice! But an total payroll cut of 10% for the life of the contract. or we all snap back. Hmm

The 10% for non bargaing group employees covers their wages, healthcare, 401 matches, bonuses and wages. It's all across their full compensation package. For us, our pension and welfare is not being touched. We lose 10% in wages and no COLA, but we will get the scheduled raise. When we get the raises, even at 10% reduction, it puts them at a higher percentage loss than us. Therefore to even things out, after 6 months they go to a 5% reduction and get back a partial match to their 401k. Depending on the health of the company, they could stay where they are because unlike us, they have no signed agreement with the union. I hope this clears things up a little.

 

[Happy2]

The 10% for non bargaing group employees covers their wages, healthcare, 401 matches, bonuses and wages. It's all across their full compensation package. For us, our pension and welfare is not being touched. We lose 10% in wages and no COLA, but we will get the scheduled raise. When we get the raises, even at 10% reduction, it puts them at a higher percentage loss than us. Therefore to even things out, after 6 months they go to a 5% reduction and get back a partial match to their 401k. Depending on the health of the company, they could stay where they are because unlike us, they have no signed agreement with the union. I hope this clears things up a little.

Thank you, that is what I have been trying to say, you did a much better job!

 

[littlepuppet]

not quite that clear

Thank you, that is what I have been trying to say, you did a much better job!

Here are the facts, we will take a 10% reduction of our gross, we will lose all 401k match, and we will lose a 85 dollar a month saftey bonus, So lets say I gross 6,000 a month. minus my 10% equals 5,400, minus my 85.00 equals 5,315,minus my 401match.Out of a 6,000 gross my match would be 300.00 a month, now i'm down to 5,315 of taxable income, minus about 27%, equals 3879.95 take home,(so 3,600) my 10% for 6 months plus (510) my saftey bonus, for 6 months, plus (1,800) my 401 match lost, and I lose more than 10% for sure!!! Brought to u by a non-union reddaway driver

 

[Plumcrazy]

Actually, there are still 2 or 3 companies around today that gave back money in the past. I don't have the names offhand, but did see it mentioned somewhere else on the boards. Preston gave back for 5 years before Yellow pulled our plug. The point is, the only thing guaranteed in life is death and taxes, everything else is speculative.
That aside, I can guarantee this, If YRC closes all past, present, and future pensions will be history.

One other point. Many of the other jobs that closed did so in a much better economy than we are facing today. Look around what this economy is doing......
Lehman Bros...gone
AIG....bailout (and within a month 9 million in the hole)
Big 3 Autos.....seeking bailout (but didnt get it beside who is that going to help the jobless people buy a car)
Dupont......cutting 6000 jobs
Jevic.....gone (didnt Yellow use to own that)
Conway......closed 40 terminals 1400 workers terminated
Citi Group.......almost closed as recently as last week
[YRC on its last leg and you left this out
We are not just talking mom & pop stores here. These are big companies, with huge numbers of employees.

Did you read what you said ok I'll highlight it for you so seeing that the economy is bad gives us a better chance than the ones that went out durning a strong economy. And Yellow sucked Preston dry had them to give money back to put into Yellow

 

[Animo916]

Did you read what you said ok I'll highlight it for you so seeing that the economy is bad gives us a better chance than the ones that went out durning a strong economy. And Yellow sucked Preston dry had them to give money back to put into Yellow

Yes, I have read what I posted. As a matter of fact, I read everything I post over before hitting the submit button. Now to go over what you highlighted, someone mentioned that ABF once gave back money, I don't know if this is true or not, but as mentioned, there were some others mentioned elsewhere that are also still around after giving back wages. I don't remember where it was posted, nor am I going to take the time to search it again. If you don't believe it, then search the site for yourself.

It's true the economy sucks now. What choice does it really give us? Basically give them the wage cut and hope it works out or go out now. Not really much of a choice is it?

AIG.....just a continuation of corruption, bad management and policies. We would definitely need changes at the top to insure our future, but that also depends on the economy. I see the economy being our biggest hurdle to face since consumer confidence and spending is down, it will continue to deteriorate the supply chain and demand for goods. I guess that is the same for the auto industry as they can cut whatever they want, they still need to sell cars, very tough indeed right now. Plus who can get loans to make the purchases?

Jevic was independent from YRC for several years, as is Saia, which is doing fairly well. Again, it's about how the company is managed and positioned to compete. Look at Conway, they are almost in the same position as we are. Also, I didn't mention YRC being on it's last feet as I believe that's quite obvious or we wouldn't be having this discussion.
To this day, I still have a sour taste in my mouth from what happened to Preston. I have never liked nor trusted Yellow since then , but don't like the prospect of losing everything without giving it a chance. One of the organizers from my local made a statement at our meeting last week, that, Yellow emerged from bankruptcy back in 1974 while he was employed there. It is possible for history to repeat itself, and that is the reason I choose to give them the chance.

 

[inactive]

only way i'd vote yes is if this is the ONLY cutback we'll EVER have to take due to a bad economy, believe me....they'll ask for MORE than 10% once we say yes to this

 

[longblade]

mmb i know you can read . you should see the paper work on this giveback .
reguardless what they say, i know you are not a cave man

 

[bluemule]

only way i'd vote yes is if this is the ONLY cutback we'll EVER have to take due to a bad economy, believe me....they'll ask for MORE than 10% once we say yes to this

No one can predict the future..You can't say they will ask even more ! Union is still the highest paid labor around, with bennies... GO wait on tables for a living ! Maybe you will have to, some day...... for a job....