Rendered before/after
Here's the twist if only 10,000 take the buyout and the company said it wanted 30,000 gone.
The extra 20,000 will be laid off.
This too will effect the future of all pension plans since they will be receiving 30,000 less contributions per month/year.
Many if not all of the laid offs are still years away from retirement.
The idea of hundreds/thousands all at once seeking payouts from pension plans is nonsense.
How many drivers retire from UPS every year? That pension money is already accounted for. Them leaving with extra cash doesn't change things much. It could actually help the lower seniority driver.
If you worried about a smaller workforce, not much you can do about that if the company decides to shrink. They will not hire, cut routes.
Thr union might want to consider extending years of service if numbers don't crunch.
Here's the twist if only 10,000 take the buyout and the company said it wanted 30,000 gone.
The extra 20,000 will be laid off.
This too will effect the future of all pension plans since they will be receiving 30,000 less contributions per month/year.
Many if not all of the laid offs are still years away from retirement.
The idea of hundreds/thousands all at once seeking payouts from pension plans is nonsense.
How many drivers retire from UPS every year? That pension money is already accounted for. Them leaving with extra cash doesn't change things much. It could actually help the lower seniority driver.If you worried about a smaller workforce, not much you can do about that if the company decides to shrink. They will not hire, cut routes.The union might want to consider extending years of service if numbers don't crunch.