Four weeks of gross base pay for every year worked (needs to be continuous) at Fedex... When you add all weeks up it cannot exceed two years. I think you max out on the buyout if you have more than 26 years of service with FedEx (26 years x 4 weeks = 104 weeks of pay = 2 years of pay - so, that's the max)
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We have cut salaried head count several times before but we never cut hourly folks. Moving things requires a ton of labor, and you cannot afford to lose people.
thanks for the info @oen and OP
Yes, there is a $35,000 benefit toward health coverage in addition to your buyout amount.
Any COBRA offered? How about reimbursement credits?
I am with Verizon, so excuse me dropping here (we also have a busy board on this website). We just finished our Buyout and your buyout is more generous than ours - kudos to your management or union or whatever / whoever you have working for you... Our I am passing our offer below:
"Employees who take the offer will receive the standard Verizon severance pay of two weeks' pay for each year of service up to a maximum of 35 weeks of pay. They will receive an additional payment of between $15,000 and $30,000, depending on their job level in the company. Their pensions will be increased by 5%, and the managers would get medical benefits for a year without having to pay any premiums. "