FEDEX FREIGHT Fedex Corporate Bonus Structure

Discussion in 'Fedex Freight' started by SwampRatt, Nov 7, 2019.

  1. SwampRatt

    SwampRatt Well-Known Member

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    While expansive annual bonus nixed, top FedEx executives on pace to receive big bonus

    https://www.commercialappeal.com/st...-top-executive-bonus-compensation/4160300002/

    "The payout is capped at a 15% growth rate, which leads to executives receiving 150% of their target payouts. There is no LTI payout if the growth rate is less than 5%."

    "To reach the minimum for the 2018-2020 LTI payout, FedEx needs an aggregate adjusted EPS of $40.02."

    "The EPS being adjusted means FedEx won’t factor in costly TNT Express integration expenses or adjustments to its retirement plan accounting".

    The proxy statement:
    http://d18rn0p25nwr6d.cloudfront.net/CIK-0001048911/92e74a03-1e47-4fa8-a2cd-577ccb32ee47.pdf
     
  2. Crazy Trucker

    Crazy Trucker Busting Clowns daily!!!!

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    Matter of time till they quit paying our bonus out again. IMO
     
  3. Jules Winnfield

    Jules Winnfield Member

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    All while they charge BS spousal surcharges giving working families a pay cut... corporate greed and benefit at it's worst.
     
  4. Crazy Trucker

    Crazy Trucker Busting Clowns daily!!!!

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    Yep I'm betting it's only a matter of time they dump our bonus program just wait.......
     
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  5. purple Haze

    purple Haze Active Member

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    Well I guess we all found out where the $150 per mo is going. Thanks Uncle Fred
     
  6. SwampRatt

    SwampRatt Well-Known Member

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    THAT would be a huge mistake, IMHO.

    1) It is part of our compensation package, installed initially to offset (sell) a less than competitive raise at that time.

    2) Any change in the metrics used (or elimination) would seriously call integrity into question, especially as the margin improves and the promised payout approaches "significant money".
     
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  7. The Point

    The Point You get it or not!

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    Just a simple calculation here to back that point up. Let's say 50,000 employees are going to pay the $150 a month penalty. That is $1800 per year or $90,000,000. The 50,000 is just a fractional value of 12% of what it probably is. This could turn into a half billion dollar windfall for FedEx. Well played Fred.
     
  8. SMOKESTACK

    SMOKESTACK Administrator AD-FREE USER

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    FDX ? + :nut kick:
     
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  9. Crazy Trucker

    Crazy Trucker Busting Clowns daily!!!!

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    What is going to stop them from doing so? Meanwhile at my center everyone is going on 10 hour bids so the guys on bottom that were over hired can work. So not only did we take a pay cut on insurance we are getting hours cut also all while our operating ratio goes through the roof. Corporate Greed anyone??????
     
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  10. teampurple

    teampurple Member

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    Thats alright we r have r jobs threatened if we leave one minute early on r run. Also scm is creating the lowest moral ive ever seen at center! We work in a jail house!
     
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  11. "THETRUTH"

    "THETRUTH" Member

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    How many city driver's in your barn ? We're hearing that over here.
     
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  12. Jules Winnfield

    Jules Winnfield Member

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    They took it away from the local management...what makes you think the drivers are so special?

    Part of the compensation that employees with working spouses has been reduced...you think they won't further reduce that compensation?

    If you haven't been calling into question their integrity for years, you haven't been paying attention.
     
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  13. mattbob

    mattbob Active Member

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    you in cub? chs? or flo?
     
  14. rodedawg

    rodedawg Dockworker with a CDL

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    Sounds like the Stl center to me
     
  15. Crazy Trucker

    Crazy Trucker Busting Clowns daily!!!!

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  16. SwampRatt

    SwampRatt Well-Known Member

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    1) What makes Drivers "special"? Labor market, cost (and difficulty) to replace, and the most vital piece of the customer experience (purple promise). Then there is that significant cost associated with truly disgruntled Drivers. The cost of contracting with firms like Labor Relations Institute (https://lrionline.com/about-us/) is an obvious example, but there are more.

    2) Yes, but there is the ability to "spin" that as cost control. MUCH different than a clear bait and switch. After the long PROMISED potential of a payout up to 4.5%, any attempt to eliminate (or change the metrics required) would be a clear "breach of trust". Also, as the bonus potential increases, zero case can be made that any struggle exists. If margins do drop below 5%, no bonus is paid, per existing policy.
    [​IMG]

    3) Yep, that's me, guilty of NOT paying attention <insert sarcasm>

    :smilie93c peelout:
     
    Last edited: Nov 9, 2019
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  17. Crazy Trucker

    Crazy Trucker Busting Clowns daily!!!!

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    Yeah but they have no loyalty to any driver no matter how many years of service, they have showed that over the years many times. They could care less about drivers, all they care about is share holders and top level executives. PSP is a joke!
     
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  18. Afdriver02

    Afdriver02 Active Member

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    I think it’s already in question. Is it just me?
     
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  19. purple Haze

    purple Haze Active Member

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    Amen to that!
     
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  20. No F-bdy Bs

    No F-bdy Bs Well-Known Member

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    Man, moral has taken a big hit, and quick.
    Just 18mo ago, drivers seemed pretty content.

    Now you have disgruntled supervisors, managment, AND drivers.

    When the troops get mad at you, the entire operation suffers badly.
     

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