XPO | Why are long time employees giving up the most?

imported_oncewas · Apr 1, 2009

When I started with this company I was shown a retirement plan comparable with the best of them. I have also watched it disappear over the years. Our retirement as we knew it disappeared and we were instead given more in our 401, so you adjust. Now I've lost 8% of my 401 match while newer drivers lose 3%. Not to dump on the younger guys, but they have time on their side. I'm in a position I never dreamed I would be in at this age. I can understand everything else but this retirement issue. Am I the only one thinking like this?

Bankrupt · Apr 1, 2009

keepinon said:
When I started with this company I was shown a retirement plan comparable with the best of them. I have also watched it disappear over the years. Our retirement as we knew it disappeared and we were instead given more in our 401, so you adjust. Now I've lost 8% of my 401 match while newer drivers lose 3%. Not to dump on the younger guys, but they have time on their side. I'm in a position I never dreamed I would be in at this age. I can understand everything else but this retirement issue. Am I the only one thinking like this?

No, you are not the only one. I was once comfortable in feeling secure about my retirement. Hell, I even shrugged off the elimination of paid health care in retirement. But when the pension funding ceased, it all hit home like a freight train.

NorthTXcon-way · Apr 1, 2009

keepinon said:
When I started with this company I was shown a retirement plan comparable with the best of them. I have also watched it disappear over the years. Our retirement as we knew it disappeared and we were instead given more in our 401, so you adjust. Now I've lost 8% of my 401 match while newer drivers lose 3%. Not to dump on the younger guys, but they have time on their side. I'm in a position I never dreamed I would be in at this age. I can understand everything else but this retirement issue. Am I the only one thinking like this?

They do it because they need to make the adjustments to survive.(that's what they tell us). There is nothing written in stone that says they have to give us anything more than minnimum wage(that's a thought). When times get tough, they chip away at the benefits and now the wages. What are we going to do? nothing. There's nothing we can do except be glad we have a job right now....I guess. Is anybody hiring?

imported_oldtimer50 · Apr 1, 2009

They want to get rid of us oldtimers!! We cost them to much. Takes away money those greedy bast##ds could have!!

Rat · Apr 1, 2009

keepinon said:
When I started with this company I was shown a retirement plan comparable with the best of them. I have also watched it disappear over the years. Our retirement as we knew it disappeared and we were instead given more in our 401, so you adjust. Now I've lost 8% of my 401 match while newer drivers lose 3%. Not to dump on the younger guys, but they have time on their side. I'm in a position I never dreamed I would be in at this age. I can understand everything else but this retirement issue. Am I the only one thinking like this?

Bankrupt said:
No, you are not the only one. I was once comfortable in feeling secure about my retirement. Hell, I even shrugged off the elimination of paid health care in retirement. But when the pension funding ceased, it all hit home like a freight train.

beerfd said:
They do it because they need to make the adjustments to survive.(that's what they tell us). There is nothing written in stone that says they have to give us anything more than minnimum wage(that's a thought). When times get tough, they chip away at the benefits and now the wages. What are we going to do? nothing. There's nothing we can do except be glad we have a job right now....I guess. Is anybody hiring?

This has been my b#tch from the beginning and I have posted as such....

The takebacks may indeed save Con-Way lots of money...but at what cost? Yes, the pension freeze (part II), the 401K adjustments and the vacation and PTO changes probably saves loads of money...

If you are 35 years old then you have years to make changes. But what if you are 65???...or 62????...or 60???...people of these years don't have that luxury. These are folks looking to wind down their careers...not change them. They have made plans...for their retirement...for their financial security...to retire in some kind of acceptable comfort (whatever that may be...we are all different with different needs) and every change made affect those folks more than the youngsters.

Things could have been done differently...don't know what...if I did know I wouldn't be here typing this...

Rat

BlueColoredTrucks · Apr 2, 2009

we all know that line by now:

"so we can survive"

by and large i agree with it and can justify what the company is doing, atleast for myself and my situation. You can call me a kool-aid drinker, but the stuff tastes great and is a hella a lot better than that other drink called unemployment.

what has me uncomfortable is when the economy picks up, what are the chances we will get everything back and if we dont, what will they say about it then?

i think in the long run they have to offer a decent retirement and overall package, because a lot of ppl would eventually go work for the competition or anyone who offers a retirement if that's what your after or benefits or watever.

im lucky enough where im only 25 years old, and i hope that this is the worst i will see.

honestly feel bad for you older folk

Bankrupt · Apr 2, 2009

YellowColoredTrucks said:
we all know that line by now:

"so we can survive"

by and large i agree with it and can justify what the company is doing, atleast for myself and my situation. You can call me a kool-aid drinker, but the stuff tastes great and is a hella a lot better than that other drink called unemployment.

what has me uncomfortable is when the economy picks up, what are the chances we will get everything back and if we dont, what will they say about it then?

i think in the long run they have to offer a decent retirement and overall package, because a lot of ppl would eventually go work for the competition or anyone who offers a retirement if that's what your after or benefits or watever.

im lucky enough where im only 25 years old, and i hope that this is the worst i will see.

honestly feel bad for you older folk

If your drinking the blue koolaid, it won't matter what they say or do.

BlueColoredTrucks · Apr 2, 2009

Bankrupt said:
If your drinking the blue koolaid, it won't matter what they say or do.

i like how you think

strunguptight · Apr 2, 2009

It was ask in our meeting today when we would receive our pay back and was told by our scm,we will not get it back until we start looseing men to other companys.

Bankrupt · Apr 2, 2009

strunguptight said:
It was ask in our meeting today when we would receive our pay back and was told by our scm,we will not get it back until we start looseing men to other companys.

Payback?

We will NEVER receive a paid back.

We may earn high wages again and our 401K may get funded again but we will NEVER get paid back.

imported_WOLFMAN · Apr 2, 2009

finicial liability

keepinon said:
When I started with this company I was shown a retirement plan comparable with the best of them. I have also watched it disappear over the years. Our retirement as we knew it disappeared and we were instead given more in our 401, so you adjust. Now I've lost 8% of my 401 match while newer drivers lose 3%. Not to dump on the younger guys, but they have time on their side. I'm in a position I never dreamed I would be in at this age. I can understand everything else but this retirement issue. Am I the only one thinking like this?

the senior drivers are the biggest liabilty ,you have worked you as-- off and now you are in the at lease most of us are not the best health and wellaware knows your issues medially so they know they got you by the BALLS YOU CAN`T AFFORD TO GO ANYWHERE ELSE. SO YOU BARE THE BIGGEST LOST!!!!!!! THAK YOU I HAVE A JOB..... IF WE HADN' T BUSTED ARE BALLS THEY WOULDN'T HAVE A JOB .:smilie_132::smilie_132:

Bankrupt · Apr 2, 2009

WOLFMAN said:
the senior drivers are the biggest liabilty ,you have worked you as-- off and now you are in the at lease most of us are not the best health and wellaware knows your issues medially so they know they got you by the BALLS YOU CAN`T AFFORD TO GO ANYWHERE ELSE. SO YOU BARE THE BIGGEST LOST!!!!!!! THAK YOU I HAVE A JOB..... IF WE HADN' T BUSTED ARE BALLS THEY WOULDN'T HAVE A JOB .:smilie_132::smilie_132:

But can junior people see beyond today and take note of what is potentially in store for them down the road? More of the same, perhaps?

imported_oncewas · Apr 2, 2009

Bankrupt said:
But can junior people see beyond today and take note of what is potentially in store for them down the road? More of the same, perhaps?

I hope the younger drivers are paying attention, I sure was duped. It's a throw away society we live in and we just got pitched, after giving them our prime years. Seems to me I've heard "integrity" mentioned somewhere.

smurfnodoz · Apr 4, 2009

keepinon said:
When I started with this company I was shown a retirement plan comparable with the best of them. I have also watched it disappear over the years. Our retirement as we knew it disappeared and we were instead given more in our 401, so you adjust. Now I've lost 8% of my 401 match while newer drivers lose 3%. Not to dump on the younger guys, but they have time on their side. I'm in a position I never dreamed I would be in at this age. I can understand everything else but this retirement issue. Am I the only one thinking like this?

24 yrs here and i think we gave up around 18% counting our vacations and 401k but a jr driver gives up 2 weeks of vacation it just not right

martha stewart · Apr 4, 2009

When they robbed us, they also stole the word INTEGRITY,cause I dont see it anymore

imported_Geezer · Apr 4, 2009

This is a real sore spot. Top men are giving up more at 5% than bottom men. Before you can say they make more, remember that they paid their dues longer. When I started, the pay was $9.75 an hour! We lost our pension and the funding that was promised until 2016. We lost the makeup match. In addition, we drive the olders trucks. as we age we believe we will gain the benefit of better pay, security toward retirement and the better equipment. At some point, as the economy improves, the competition will realize that we have the most professional workforce and the best drivers and start hiring them away. The we may get back our pay. Our biggest competitor (Fed Ex) build a majority of their company by hiring managers and directors from Con-way.

the blue robot · Apr 4, 2009

long time employees

keepinon said:
When I started with this company I was shown a retirement plan comparable with the best of them. I have also watched it disappear over the years. Our retirement as we knew it disappeared and we were instead given more in our 401, so you adjust. Now I've lost 8% of my 401 match while newer drivers lose 3%. Not to dump on the younger guys, but they have time on their side. I'm in a position I never dreamed I would be in at this age. I can understand everything else but this retirement issue. Am I the only one thinking like this?

i feel for those guys but they do have the most to loose and i think con-way should have been a little more fair about how they did what they did. :ranting2:

Bankrupt · Apr 4, 2009

martha stewart said:
When they robbed us, they also stole the word INTEGRITY,cause I dont see it anymore

Did you ever have a parent, teacher, coach, sargent, or somebody pull the Do as I say, not as I do crap? Most people have seen it and if you are like me, that person did not gain my respect as a leader.

No matter what character our leaders demonstrate, you and I are expected to demonstrate unquestionable integrity.

ROOT CAUSE · Apr 4, 2009

I have read thru this entire thread and i ask myself and you....why are you preaching to the choir? What is the solution that will make them understand INTEGRITY is a two way street. How do we the heart and soul of the company make them do as they have promised?
Higher ups who may read these threads you need to understand one thing.

(I'am reffering to the ones who felt it necessary to give stock bonus before slashing your employees pay and benefits.)

If none of you show up on Monday morning we will still P/U freight and run it down the road.

If we do not show up.........Get my point?

ROOT CASUE OF TAKEAWAYS= GREED.

Count Chocula · Apr 4, 2009

Bankrupt said:
Did you ever have a parent, teacher, coach, sargent, or somebody pull the Do as I say, not as I do crap? Most people have seen it and if you are like me, that person did not gain my respect as a leader.

No matter what character our leaders demonstrate, you and are expected to demonstrate unquestionable integrity.

In the end,integrity is the most important thing any of us have.And also the one thing they can't take away from us.By not allowing them to drag us down to their level,we can at least maintain our self respect.And hopefully the respect of our peers.

XPO | Why are long time employees giving up the most?

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