SPACECADETwACDL
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It will come back. Be patient.
FedEx Freight | lost 401k match, bonuses, paycuts
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Yep,,,, thats the way it works......
And just where in the hell have you fricken been? Have you been up there at da beach with tenspeed? You have alot of splaining to do, young man! Merry Christmas and a Happy New Year my friend! Its good to see you around again!
Thank you for the reply. If they cut 15%, I should be ok but I honestly hope they dont for the poor souls under me. Things are sure getting scary.
I was told that the 301k match is on a one year term and will be addressed in one year only the 401 k , other bonuswil stay intact but raising expectations to meet demand. And on red shirts , one reason i can see a person taking less money at the begining of thier job is one hoping to get more in the future , two they need to have control (ego) over others , or third but not least they can't do anything else . So i vote for no one
LTL Unit’s Operating Income Plunges 59%
I wonder how national did????????
FedEx Corp. said Thursday its fiscal second-quarter profit rose 3%, but it cited difficult economic conditions and said it would trim senior executives’ salaries and set a hiring freeze.
Transport Topics Online | FedEx 2Q Profit Improves;
Will Cut Salaries, Costs
I wonder how national did????????
FedEx Corp. said Thursday its fiscal second-quarter profit rose 3%, but it cited difficult economic conditions and said it would trim senior executives’ salaries and set a hiring freeze.
Transport Topics Online | FedEx 2Q Profit Improves;
Will Cut Salaries, Costs
Not true
Told in preshift today it will be for the whole year. No ifs, ands, or buts. Once the company does this they are locked in to it for the calender year. Also the wage cuts for mgmt is pernament and not going to be reinstated when or if the economy picks up.
Told in preshift today it will be for the whole year. No ifs, ands, or buts. Once the company does this they are locked in to it for the calender year. Also the wage cuts for mgmt is pernament and not going to be reinstated when or if the economy picks up.
fedex_employee
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Well im pretty darn close to perfect.
fuzzybunny
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we have great jobs,don't we? just deal with it.It could be a hell of a lot worse.The economy will go up and down,good times bad times.We will come out of this alright.Just cut back on somethings for now like your big radio's and big pick-up trucks this will blow over just like it did in the 1980's,and keep max'ing out your 401k if you can better times are around the corner.Trust me I've seen this before all of us 35 and over have.
nightstalker01
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wonder if mangement ( dock supervisors CCM's and such ) are losing thier bonus's..you know the ones they are not getting *wink wink that the company has them sign stating that they will not discuss with others...some of those supervisors were once ( dockhands, drivers, and such )
Yes
Yes they have lost those bonus's. I think mgmt has taken a pretty good
. Be prepared for our
Yes they have lost those bonus's. I think mgmt has taken a pretty good
. Be prepared for our
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Be prepared for our
You got that right !
Think there are angry drivers now just wait.
FedEx Cuts Workers' Retirement Compensation While CEO Rakes in Multimillion-Dollar Pe
Sorry if this is in the wrong thread.But it pertains to all of us......I think.
More Drastic Cuts in Workforce Compensation Fuels Drive for Teamster Representation
WASHINGTON, Dec. 18 /PRNewswire-USNewswire/ -- FedEx Corp. FDX today announced drastic cuts in pay and deferred compensation for most of its U.S. workforce. Salaried U.S. FedEx employees will take permanent 5 percent to 10 percent base salary reductions while FedEx founder, Chief Executive and Chairman Fred Smith will take a permanent 20 percent reduction in base salary. According to company statements, hourly employees will not see base wages impacted in this round of cost controls.
Please read on.
FedEx Cuts Workers' Retirement Compensation While CEO Rakes in Multimillion-Dollar Pension: PRNewswire Business News: FDX - MSN Money
Yes they have lost those bonus's. I think mgmt has taken a pretty good
Sorry if this is in the wrong thread.But it pertains to all of us......I think.
More Drastic Cuts in Workforce Compensation Fuels Drive for Teamster Representation
WASHINGTON, Dec. 18 /PRNewswire-USNewswire/ -- FedEx Corp. FDX today announced drastic cuts in pay and deferred compensation for most of its U.S. workforce. Salaried U.S. FedEx employees will take permanent 5 percent to 10 percent base salary reductions while FedEx founder, Chief Executive and Chairman Fred Smith will take a permanent 20 percent reduction in base salary. According to company statements, hourly employees will not see base wages impacted in this round of cost controls.
Please read on.
FedEx Cuts Workers' Retirement Compensation While CEO Rakes in Multimillion-Dollar Pension: PRNewswire Business News: FDX - MSN Money
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A quote form the story...
Although garnering headlines for his salary adjustment, Smith meanwhile retains $26,411,752 accrued under the FedEx Retirement Parity Pension Plan and $1,164,464 under the Employees' Pension Plan. Additionally, Smith's $1.4 million salary only comprised 13 percent of the $10.9 million that he raked in for 2008. In fact, 55 percent of Smith's 2008 pay was in stock options not tied to any performance goals.
Although garnering headlines for his salary adjustment, Smith meanwhile retains $26,411,752 accrued under the FedEx Retirement Parity Pension Plan and $1,164,464 under the Employees' Pension Plan. Additionally, Smith's $1.4 million salary only comprised 13 percent of the $10.9 million that he raked in for 2008. In fact, 55 percent of Smith's 2008 pay was in stock options not tied to any performance goals.
LostInSpace
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Red Shirts took a 5% paycut for CY 2010
Red Shirts took a 3% drop in matching 401K contributions
Red Shirts took a CY2010 merit increase of 3-4%
Red Shirts took a bonus/MBO loss of 2-3% in CY2010
Across the board, it would seem that the fallout for redshirts was substantially more than the 5% across the board salary drop.. more like about 13% for 2010.
Some may think that red-shirts don't deserve diddly-squat to start with, and maybe you're right. Perhaps we should just volunteer our time.
These are struggling times we find ourselves in. If my small sacrifice means we are a stronger company to fight another day, then so be it. I've been in this game for a long time, but there is nothing harder than finding a job when you don't have one.
And by the way, I think Fred owns the company- who am I to complain about his salary compensation?
Play the hand your're dealt- or fold.
Just my two thoughts as a red-shirt.. your mileage may vary.
Red Shirts took a 3% drop in matching 401K contributions
Red Shirts took a CY2010 merit increase of 3-4%
Red Shirts took a bonus/MBO loss of 2-3% in CY2010
Across the board, it would seem that the fallout for redshirts was substantially more than the 5% across the board salary drop.. more like about 13% for 2010.
Some may think that red-shirts don't deserve diddly-squat to start with, and maybe you're right. Perhaps we should just volunteer our time.
These are struggling times we find ourselves in. If my small sacrifice means we are a stronger company to fight another day, then so be it. I've been in this game for a long time, but there is nothing harder than finding a job when you don't have one.
And by the way, I think Fred owns the company- who am I to complain about his salary compensation?
Play the hand your're dealt- or fold.
Just my two thoughts as a red-shirt.. your mileage may vary.