Thread regarding FedEx Corp. layoffs

Buyout offer

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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Post ID: @OP+XgJyeWT

5 replies (most recent on top)

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.

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Post ID: @1cqf+XgJyeWT

Yes, there is a $35,000 benefit toward health coverage in addition to your buyout amount.

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Post ID: @oen+XgJyeWT

Any COBRA offered? How about reimbursement credits?

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Post ID: @hue+XgJyeWT

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. "

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Post ID: @sbt+XgJyeWT

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