5% give back, lose 401K match....

Discussion in 'XPO Logistics' started by SickandTired, Mar 9, 2009.

  1. SickandTired

    SickandTired Member

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    Not too bad, Im just glad I have a job. This countries going through tough times right now. And if this helps Con-way stay on top of their competitors, Im all for it. Im staying positive because being negative over this isnt going to help anyone. Lets all ban together and help Conway be all it can be. Were all in this together, lets go! Lets make Conway proud of us!
     
  2. espesp1

    espesp1 New Member

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    Is the 5% just for top scale or through out all scales
     
  3. av8tor

    av8tor Well-Known Member

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    That is everything? 5% and no match? Nothing else? I was hearing things about vac days and pto days etc.......????
     
  4. paramarine1965

    paramarine1965 Member

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    I heard same! Also, you will not start off next year with your accrued vacation! If you have 3 weeks, then intead of starting year off with 3, then you will have to work 4 months before you have a week off! it's another way to keep from paying severance vacation pay if someone quits. Was told this morning that they are giving till end of March to cancel vacations so you will have something to start next year with! Basically, in my opinion, we are working for nothing but a paycheck now! Figured they would go above and beyond what any of the compettition was doing!!! Good hint, keep an eye on our stock and see what signal this sends to the financial market!
     
  5. av8tor

    av8tor Well-Known Member

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    I wonder if they are canceling the buyouts at year end.......any pto or vac days left do we lose them now?
     
  6. thestrap

    thestrap Member

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    Well, I guess it's going to take some people 5% longer to get things done. Oh, how much did the upper management, RM's, SCM's, etc... have to give back?
     
  7. thestrap

    thestrap Member

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    Just curious as to who told you this? Another driver, dockworker, or a person who is in a position to make this kind of statement to anyone who works at Con-way?
     
  8. av8tor

    av8tor Well-Known Member

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    Stock up $.22 as of five min ago.
     
  9. bob45

    bob45 New Member

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    The cuts were across the board everyone got 5%
     
  10. av8tor

    av8tor Well-Known Member

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    Dropped $.10 in last ten min.....
     
  11. Pennys2

    Pennys2 New Member

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    Regarding the 401K match, is it all of, even that they were putting in for our retirement?
     
  12. SickandTired

    SickandTired Member

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    It feels good.....

    To work for a company that has their employees interest at heart. By doing these cutbacks they are virtually saving this company from going out of business and pretty much saving all of our jobs. We will now be the leaders in the LTL business and the strongest financially. Stay positive, be proud that you are doing your part to help out. Be glad you have a job! Plus we still have our ICP. If we all pick up our pace and be better employees, we can get next years ICP over the top and make up for the wages and company matched 401k contributions we just lost. Plus this will help Conway stocks soar. Its a win, win situation.
     
  13. kurbi

    kurbi Member

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    Take your head out of the clouds.....It's all corporate GREED....BOTTOM LINE.....
     
  14. RoadRage76

    RoadRage76 Member

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    I haven't seen the DVD yet - I'll see it tonight. From the phone calls I've received this morning it's 5% across the board and 1.5% 401(k) match vs. the current match.

    The best thing to do right now is actually watch the video and secure as much (official) information from it is as possible and don't fall victim to the rumor mill.

    I think I can speak for the majority in stating that 5% less still pays far more than unemployment does, and hopefully after the recovery (ha) the company will do the right thing in terms of employee compensation.
     
  15. thestrap

    thestrap Member

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    You're not serious are you? You're being sarcastic right?
     
  16. mndrvr

    mndrvr New Member

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    Sorry to hear you feel that way. But realistically, this puts us at the pay we had a couple years ago and the way it sounds, business levels are at or below what they were a couple years ago. Do the math. Why sould we continue with the same pay when the company is in a sense taking a pay cut. To those who oppose, quit and tell us how your new job is going!
     
  17. JustaDriver

    JustaDriver Member

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    Should we all base these " hopes " upon CNW's
    past record in regards to any other employee compensation(s) that were decreased previously ?

    Just4Thought
     
  18. Pennys2

    Pennys2 New Member

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    Thanks roadrage for your answer. Am I happy with it, no but at least the jobs are still there.
     
  19. thestrap

    thestrap Member

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    To those who haven't been with this company 20+ years and helped build this company up to what it was a few years ago. Who haven't had a pension taken from them, who haven't had sick days taken from them, who haven't had payed Holidays taken from them, etc... now you want us to be happy that they have taken 5% of my pay and F'ed with my 401K, so some cee-sucker investor or Board of Director can keep making his 6 or 7 figure salary from us. Bu!! $h!+ Why don't you quit and find a new job? I was here first and helped make this one of the premiere LTL company's to work for. It didn't start going into the crapper until we got a bunch of new guys, (not just drivers or dockworkers, but management too), who were like little puppy dogs when the going got rough or someone questioned them, they would roll over onto their back and piss all over themselves and give in. That is the unfortunate thing. We've got a bunch of F'n yes men cowards with no balls, who are afraid to stand up and say "Hey, this is BS and we aren't going to do it that way." We've had issues in the past, mostly at the terminal level or regional level, that we had issues with and we stood up for what we believed in and the managers backed down. In fact there was a time quite a few years ago where we out West were very unhappy with the pay raise that we were going to get, we questioned the leaders, voiced our displeasure and low and behold they said there must have been a mistake in the numbers and we received a much better raise. So I guess the question is, are you a puppy dog? Because if you are a puppy dog not only will you have piss on your belly your gonna have it on your nose too. You piss on my floor your gonna get punished!

    Your turn!
     
  20. imported_Springer

    imported_Springer Member

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    A few years ago our company spent almost a billion $ purchasing CFI, CHIC LOGISTICS, and COUGAR EXSPRESS ! Done the math . YEP!
     

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