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TForce | $50,000 Buyout?

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FreightDriver

TB Newbie
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Well I don’t t want to hear that they don’t have the money to raise hourly and mileage pay when they are offering guys this amount of money to leave.
 
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No port

TB Regular
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They offered less last year, few took it. So they added more money . They are trying to get the old timers to leave, because of all the layoffs.
 
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FreightDriver

TB Newbie
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3
No port said:
They offered less last year, few took it. So they added more money . They are trying to get the old timers to leave, because of all the layoffs.
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The main problem is that they allowed people to retire and keep working at TForce. In the real world when people retire from a company they aren’t allowed to keep working as if they never left, meaning keeping their senior, etc. They made a mistake in saying that they are two different companies. They are not. UPS Freight was bought by TFI. Same company, new ownership. The old timers played TFI for all they were worth. Now they are paying the price. I really don’t have any sympathy for them.
 
Crumudgeon

Crumudgeon

Guru of the Gobblydeguk Constitutionalist
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FreightDriver said:
The main problem is that they allowed people to retire and keep working at TForce. In the real world when people retire from a company they aren’t allowed to keep working as if they never left, meaning keeping their senior, etc. They made a mistake in saying that they are two different companies. They are not. UPS Freight was bought by TFI. Same company, new ownership. The old timers played TFI for all they were worth. Now they are paying the price. I really don’t have any sympathy for them.
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When it comes to the pension, they are 2 different companies. UPS's pension liability ended April 1, 2021, and TFI's began. When you retire you will get 2 deposits, one from each Company, and IMHO TFI doesn't like pension liability. I believe the elimination of the pension is high upon the list of demands TFI is making in the Contract talks, a 401 based formula is quick and easy for TFI to manage into the future.
TFI is a profit driven Company and if they shell out 50 grand somewhere someone counted the beans, and it works in their favor.
Take the 50g's and run....
 
N

No port

TB Regular
Credits
10
Crumudgeon said:
When it comes to the pension, they are 2 different companies. UPS's pension liability ended April 1, 2021, and TFI's began. When you retire you will get 2 deposits, one from each Company, and IMHO TFI doesn't like pension liability. I believe the elimination of the pension is high upon the list of demands TFI is making in the Contract talks, a 401 based formula is quick and easy for TFI to manage into the future.
TFI is a profit driven Company and if they shell out 50 grand somewhere someone counted the beans, and it works in their favor.
Take the 50g's and run....
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There gonna have to give more than a 401k with a match to get rid of the pension. They are on the hook for almost 2 years already for every current employee. They would have to buyout everyone. That may be the plan, but it won't be an easy sell, they owe every pensioner about $230 a month as of April.
 
F

FreightDriver

TB Newbie
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No port said:
There gonna have to give more than a 401k with a match to get rid of the pension. They are on the hook for almost 2 years already for every current employee. They would have to buyout everyone. That may be the plan, but it won't be an easy sell, they owe every pensioner about $230 a month as of April.
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Agreed! Bedard needs to put this issue to rest by continuing the pension.
 
N

No port

TB Regular
Credits
10
I remember when the sale happened, guys where retiring. Tfi said, hey you can collect your ups pension and stay.
Now they can't get them to retire . The irony.
 
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