Holland | YRC Offering Buy Out

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We received Thursday a company wide email from YRC CEO. He started off with a dim picture of last quarters report. YRC lost 37 million last quarter and he stated the immediate recovery is not foreseen. At this point in his email he indicated he will spend the next 3 to 4 months going around to the terminals presenting a offer of voluntary leave of absence and a .voluntary separation (retirement) from the company. He indicated this will be offered on a broad range. Also he stated YRC will be coming up with a single universal retirement package for its employee's Ok..........what does this mean?? We will soon find out, will keep you posted. ::1036316054:
 
We received Thursday a company wide email from YRC CEO. He started off with a dim picture of last quarters report. YRC lost 37 million last quarter and he stated the immediate recovery is not foreseen. At this point in his email he indicated he will spend the next 3 to 4 months going around to the terminals presenting a offer of voluntary leave of absence and a .voluntary separation (retirement) from the company. He indicated this will be offered on a broad range. Also he stated YRC will be coming up with a single universal retirement package for its employee's Ok..........what does this mean?? We will soon find out, will keep you posted. ::1036316054:


This is probably only for management types. This is what Myers did in the mid 90's, it saved us a ton of cash. Good move Billy. I hope it's for all of YRC not just Holland.
 
This is probably only for management types. This is what Myers did in the mid 90's, it saved us a ton of cash. Good move Billy. I hope it's for all of YRC not just Holland.

Ditto....Myers did the same thing to get older and experianced management to take early retirement and replaced them with younger, inexperianced and cheaper workers.....WAIT A MINUTE.....NOW we know what has happened.....it just took a few years to let them screw it up!.....KK
 
YRC Offering Buy

Fellow:
Here is what we think they are going to do....there is a hidden agenda behind their madness. This offer is going to be made to non-union and union members. They are looking to have as many union members whom are close to retiring age accept a voluntary separation. We strongly fee YRC will offer hospitalization plan to go along with this............and whats the hidden agenda........well lets say the have a large or substantial amount of union people accept this. The company than can turn around and hire (after they call back those on layoff) and use the 4 hour casuals to replace them. The company is going to save big time in benefits they do not have to pay out....
 
the union will never go for it there the one's paying the retirement. central states don't want you to go now didn't u people get the letter there do away with the 30 and out and some other stuff there doing there best to keep u till your 65 now c/s knows there going to have short fall in a few years after c/s runs that 6.1billon into the ground ups pay to get out of it there be NO rank and file on this one the ibt will never go for it this management only
 
I know many people at LCP (Yellow) have been talking a lot lately about wishing they could take an early retirement, but didn't think they would ever be offered suck a thing. I am interested in seeing how this plays out here.....!
 
Don't have any FACTS on this discussion.

That said, if its true, C/S may jump on board. They would collect initiation and dues if casuals worked even 1 day per month. For this they'd provide no benefits.
 
Show me the door! Cut me a check ! Credit me with the 2080 hours this year and my last day was Friday.

With what has been paid in on me since I joined with just a puny 6% return they can write me a check for $250,000 and I leave tomorrow.
 
Talked to 2 people that saw the e-mail both said the first part is true about the 37 million loss but did not see anything about a buy out in the message.
 
I saw the memo as it was posted on the board .

I noticed on page 2 it still talks of 'combining terminals where it makes sense'.

Sadly I doubt any 'buyout' feature would benefit us in Canada but if it did and I could get credits for the pension I would be first in line...........
 
buyout

Found the 2008 stock holders call about 10 pages long lot of Q&A at the end some I understood but no where in it did I see any thing about a buy out,got a feeling this is a rumor,lot of people at my terminal said that if the offer was right they would jump at it.
 
We received Thursday a company wide email from YRC CEO. He started off with a dim picture of last quarters report. YRC lost 37 million last quarter and he stated the immediate recovery is not foreseen. At this point in his email he indicated he will spend the next 3 to 4 months going around to the terminals presenting a offer of voluntary leave of absence and a .voluntary separation (retirement) from the company. He indicated this will be offered on a broad range. Also he stated YRC will be coming up with a single universal retirement package for its employee's Ok..........what does this mean?? We will soon find out, will keep you posted. ::1036316054:
I think if you reread that e-mail, you will see that the last line reads , Not for public knowledge. I think you let the cat out of the bag!:smilie_132:
 
the union will never go for it there the one's paying the retirement. central states don't want you to go now didn't u people get the letter there do away with the 30 and out and some other stuff there doing there best to keep u till your 65 now c/s knows there going to have short fall in a few years after c/s runs that 6.1billon into the ground ups pay to get out of it there be NO rank and file on this one the ibt will never go for it this management only

The Union will not have a choice. The company can give you anything above the contract it wants. Why would the Union care? If senior men retire early and the company hires new people the same amount would would go into c/s. The senior men would drawn less money and there would be a greater chance that some of the new hires would never get vested. However, I would suspect that this would be aimed at management.?
 
I agree it would be a win win deal money still going into the fund the company getting new people at a lesser wage scale no vacation's for 1 year ect everyone fat dumb and happy.
 
dreamers

looking at the cost per employee of a buy out as opposed to picking us off one at a time, whats the point of a buy out:chairshot::nutkick:we don't have half the pull in that direction as UAW. when we are laid off, we don't get our wages it just unemployment violated by causal work so the company doesn't have to pay it.ooh... I forgot, when the company broke records you gat a coffee mug and now they are going to thank you,:hysterical: right????
 
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