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

[imported_ssadab]

Good old Doug who said we are in tough economic times didn't have a problem taking more than $1 million in stock options in January, selling Conway 2 houses of which they still own, getting a housing allowance while living in California. Oh wait he froze his $630,000 base salary. All is forgiven.

 

[happylark]

this is not good at all . all that we here is how we are still a very profitable company and it is not as though we havent given back enough already.what about the raise we never got a few years back , we never saw any of that yet ,what about our medical increases and all of the other B.S. that we hear . Oh !!! did any of you see that our 2-3 million dollar CON-WAY NASCAR TRUCK RACE INVESTMENT . result from this weekends race , smashed head on into the wall !!!!! WOW WHAT A GREAT INVESTMENT !!! enough said it all speaks for itself .

 

[free_thinker]

5% of $55,000 seems like a lot harder hit to a bottom level front-line employee than 5% of 600,000 for the CEO.

What bothers me more is the vacation/PTO day policy.
When the economy picks up, will they go back to the old way of earning/taking vacation/PTO days?
I doubt it.

I can understand times are tough. But, (not seeing the video yet) was there any mention of giving these things back?
If economy picks up, in a year, 6 months, 18 months, whenever, will they then say, "Here's your %5 back, and then here's this year's _% raise on top of that?"

I doubt that too.

In a sense, this is like the government and taxes. Have you ever known of a tax that the government rescinded?
"We need to raise a sales tax to build a courthouse."
O.K., but then when the courthouse is built and paid for, funny there's no mention of taking that tax back off the books.

Same thing here. I'd bet you $20 that the economy could rebound before Halloween and we never get that 5% back. Any more raises will start right where everyone is as of April 16.

I'm sure that people aren't going to quit in droves today, after all, where can they go?
But, I'm sure the number of people looking for a job increases dramatically tonight.

And, seriously, can no one at CGO see irony of repeatedly telling us things are bad (which most of us know), we must save at every opportunity, we must band together as a team and weather this storm; all the while cranking out new posters, videos & books? That stuff costs money, and I don't need a motivational poster to make me work harder.
I need a corporate leadership that practices what it preaches and sets an examples for others to follow throughout the organization.
If I saw a memo announcing all spending on frivolous crap is at an end, that would impress me more than the executives taking a 5% pay cut. After all, as I said, for many of us, 5% to them is more than we make all year.

 

[hookset]

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 **** 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 **** on your belly your gonna have it on your nose too. You **** on my floor your gonna get punished!

Your turn!

I agree with you 100%

 

[Aggressor]

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!

What a crock of BS.
The only way the economy is going to get better is if people spend money. If no one has money to spend the economy will not recover.
Corperate idiots keep sending jobs overseas to make more profit, however eventually no one here can afford their product since no one will have a job.
I'm not a friggin rocket scientist , however it only takes common sense to figure these things out.
Now Conway wants to give us less money so that we can not buy things & help the economy, how is this suppose to help?
All they did was add themselves to the problem.

 

[SickandTired]

Finally!!!!

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!

Another level headed employee! They took a pay cut and so should we. It all makes sense, stay positive fellas. If you dont stay positive, you should quit. Conway doesnt need you. We only need positive people to get us through this. Ive got over 20 yrs. with the company, so Im kinda used to the new enhanced company. The company is hurting now, and this is a good way to give a little back, the teamsters did it, so can we.
One more positive thing that just happened, Conways NASCAR truck rammed the wall this weekend, head first, it looks totaled. What do race fans love more than anything? Thats right, crashes. Just think of all the happy NASCAR truck series fans out there talking about the crash. More publicity for our truck, more return on our dollar. Life is good.

 

[halftrac]

Instead of drinking the kool-aid, SickandTired dove in headfirst!

Another level headed employee! They took a pay cut and so should we. It all makes sense, stay positive fellas. If you dont stay positive, you should quit. Conway doesnt need you. We only need positive people to get us through this. Ive got over 20 yrs. with the company, so Im kinda used to the new enhanced company. The company is hurting now, and this is a good way to give a little back, the teamsters did it, so can we.
One more positive thing that just happened, Conways NASCAR truck rammed the wall this weekend, head first, it looks totaled. What do race fans love more than anything? Thats right, crashes. Just think of all the happy NASCAR truck series fans out there talking about the crash. More publicity for our truck, more return on our dollar. Life is good.

 

[StrokerAce]

5% of $55,000 seems like a lot harder hit to a bottom level front-line employee than 5% of 600,000 for the CEO.

What bothers me more is the vacation/PTO day policy.
When the economy picks up, will they go back to the old way of earning/taking vacation/PTO days?
I doubt it.

I can understand times are tough. But, (not seeing the video yet) was there any mention of giving these things back?
If economy picks up, in a year, 6 months, 18 months, whenever, will they then say, "Here's your %5 back, and then here's this year's _% raise on top of that?"

I doubt that too.

In a sense, this is like the government and taxes. Have you ever known of a tax that the government rescinded?
"We need to raise a sales tax to build a courthouse."
O.K., but then when the courthouse is built and paid for, funny there's no mention of taking that tax back off the books.

Same thing here. I'd bet you $20 that the economy could rebound before Halloween and we never get that 5% back. Any more raises will start right where everyone is as of April 16.

I'm sure that people aren't going to quit in droves today, after all, where can they go?
But, I'm sure the number of people looking for a job increases dramatically tonight.

And, seriously, can no one at CGO see irony of repeatedly telling us things are bad (which most of us know), we must save at every opportunity, we must band together as a team and weather this storm; all the while cranking out new posters, videos & books? That stuff costs money, and I don't need a motivational poster to make me work harder.
I need a corporate leadership that practices what it preaches and sets an examples for others to follow throughout the organization.
If I saw a memo announcing all spending on frivolous crap is at an end, that would impress me more than the executives taking a 5% pay cut. After all, as I said, for many of us, 5% to them is more than we make all year.

You said what I thought and what I have heard from other drivers. Very good post.

 

[countryboy]

still havnt heard about the vac. and pto days

 

[thestrap]

Another level headed employee! They took a pay cut and so should we. It all makes sense, stay positive fellas. If you dont stay positive, you should quit. Conway doesnt need you. We only need positive people to get us through this. Ive got over 20 yrs. with the company, so Im kinda used to the new enhanced company. The company is hurting now, and this is a good way to give a little back, the teamsters did it, so can we.
One more positive thing that just happened, Conways NASCAR truck rammed the wall this weekend, head first, it looks totaled. What do race fans love more than anything? Thats right, crashes. Just think of all the happy NASCAR truck series fans out there talking about the crash. More publicity for our truck, more return on our dollar. Life is good.

I'm sure our customers who are Nascar Truck fans are totally impressed by the excellent driving ability of one snot-nosed kid. I can hear it now, " God if they treat our freight like they do their truck maybe we better ship with someone else." Yea, great publicity. More Kool-aid for the puppy in Indians please!

 

[Bankrupt]

Another level headed employee! They took a pay cut and so should we. It all makes sense, stay positive fellas. If you dont stay positive, you should quit. Conway doesnt need you. We only need positive people to get us through this. Ive got over 20 yrs. with the company, so Im kinda used to the new enhanced company. The company is hurting now, and this is a good way to give a little back, the teamsters did it, so can we.
One more positive thing that just happened, Conways NASCAR truck rammed the wall this weekend, head first, it looks totaled. What do race fans love more than anything? Thats right, crashes. Just think of all the happy NASCAR truck series fans out there talking about the crash. More publicity for our truck, more return on our dollar. Life is good.

Life IS good but I am grateful there is not a handy grenade for me fall on and cover with my body to help save Conway.


.....'cause I would, you know.

 

[TiredDvrsWife]

How many with 20+ years will stay now? Good pay, even with cutbacks but not really working towards a pension/retirement now. No pension, no 401K since stocks are in the gutter. What a demoralizing effect this will have on the older guys.

I know you guys see it on the working side (of course) rolling out of bed another day to work at a job that is eating at you.

On my side I see a husband that has worked loyally for years, done what is asked (not always quietly lol) and gone above/beyond and brought years of experience into a company that was new. Now he's tired, wonders what his retirement is going to be like in a few years and already thinking of ways to bring in money when he's too old to drive a truck.

Of course this has been going on for centuries, working until death, no pensions/SS for years until the last century. Still it's hard for me to watch and I'm sure while you good men worry about your families you'll see the worry in your wife's (SO, partner,etc) face also. I'll try to keep a positive face tonight until my husband leaves for work. Assure him that we are alright and then cut back even more on our expenses, although not sure where since we are about to the bone now.

I don't know you guys face to face but I do 'know' you through these boards and being a woman and emotional (typical, huh?) I'm worried about you guys also. Even the ones that get on my nerves !!

Ok, starting to sound like a bleeding heart liberal here and better cut this short!

To all: hang in there, fight the good fight and at the end be able to say Well done thy good and faithful servant (from loved ones of course, don't think GEO will ever say that!!) :smilie_132:

 

[wolfie77]

When I was hired I was told there was a pension. That is now taken away.
I was told we would have a 401k with the best match in the industry. That is now taken away.
I was told we had industry leading health insurance. That is now gone.
The only difference between Conway and another LTL company is the uniform.
Anybody notice that Conway did not cut/freeze their dividend?

 

[TiredDvrsWife]

So the big guys give themselves a bunch of stock, then take away 5% of everything but don't freeze the dividends so THEY can make up for the 5% they are having 'taken' from them?

Wow..... verrry interesting......

When I was hired I was told there was a pension. That is now taken away.
I was told we would have a 401k with the best match in the industry. That is now taken away.
I was told we had industry leading health insurance. That is now gone.
The only difference between Conway and another LTL company is the uniform.
Anybody notice that Conway did not cut/freeze their dividend?

 

[Bankrupt]

​

 

[longtimeltl]

What I remember from the video:
5% pay cut accross the board
401K transition contributation suspended ( the one we were sugar coated with when our pension was frozen )
More employee terminations
Both magazines suspended
Changes to the FAC's due to lower freight volumes
If someone can add to these, please do so
When John L asked the question to himself, will the cuts be re-instated when the economy turns around?
If he is not a politician, he should be! He really danced around the answer.:smilie_132:

 

[kurbi]

It's amazing how things work at con-way...Just another enhancement..........

 

[Carnifex]

While pouring a cup in the coffee nook I overheard my SCM talking to the FOM...

 

[Bankrupt]

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!

I'll make you a friendly deal.

You don't tell me what to do and I won't tell you what to do.

Fair enough?

 

[ghostbommbb]

I really believe this 5% pay cut is going to fund CFI.