Cwa Proposes C/s Employee Buyout

[deltawatch]

CWA reported to it's members after their May 17th meeting with mgt the following;

"Management responded that they do not have a concrete proposal to make about seniority or about concessions in general (CWA group). They said they would listen to and evaluate anything we had to propose, including buy-out proposals."

CWA BUYOUT PROPOSAL

Encourage senior employees to volunteer for early retirement by instituting the following "early out" offer at airports where staffing is expected to be reduced by the implementation of new technology:


Offer:
Normal retiree healthcare coverage;
Normal retiree lifetime travel privileges;
An amount equal to the employee's normal furlough allowance plus $15,000

Status: An employee accepting this offer will be placed on retired status with no right to recall.

Note: Every top-scale agent or rep who is replaced by a new-hire saves the company almost $130,000 over 5 years. A buy-out plan like this, if instituted two years ago, could have saved the company millions and resulted in a much lower-seniority workforce.


My question to fellow members is who this buyout should be offered too?

1- Age 50 with 15 years service?

2- Age + service = 65

3- Age + service = 70

4- Age + service = 75


My vote is for groups 1 & 3

 

[ktflyhome]

So, Management does NOT have a concrete PLAN about concessions and seniortity??? What do they have??? What do they want? For everyone just to come to the table, open up our veins, bleed, bleed, bleed and If we are able to get up and still walk away, they will let us KNOW IF THAT WAS ENOUGH to satisfy them???
<_<

 

[FLYUSAIRWAYS]

Would the company have to offer this early out program to all agents in every city, or just to employees in cities that are getting the gate boarding pass readers? I would think to be fair to all CWA members, that the early out would have to be offered to all members, not just the ones in select cities. Anyone agree?

 

[deltawatch]

ktflyhome...Maybe under Lakefield they are open to ideas ... Maybe they are giving the employees credit for having some…… Maybe they are willing to listen…… Maybe they want to hear from us. Would you prefer Glass coming back to the table like last time and cursing everyone out again?

This thread is for CWA members. To find out who they think should receive this offer if it happens.

Lets try to stay on topic.....

 

[wench]

****first in line, waves hand and does the queens wave as $$$$$$$$ is collected***

A co worker asked me today would I take it???

Ya Damn Right..

Le ts go Pal,where DO I SIGN!!!!?

 

[Light Years]

AFA, are you listening? They are willing to "listen and evaluate" buyout proposals.

 

[bagosh]

I would love to see an early out, but is it possible. With our retirement money in a 401k is it possible to receive those funds with an early retirement. I believe there are some IRS regs that have to be looked into
With the recent correspondence from the company regarding retirement , it is necessary to ionform the company that your intending to retire 3 months prior to the actual day. If you should change that day a new 3 month waiting period would go into effect.
Me I'm gone Sept 1 no matter what happens, I hope

 

[deltawatch]

With our retirement money in a 401k is it possible to receive those funds with an early retirement. I believe there are some IRS regs that have to be looked into.

Read the proposal closer. You will not be able to tap into your 401k until age 55. All you would get now is:

Normal retiree healthcare coverage;
Normal retiree lifetime travel privileges;
An amount equal to the employee's normal furlough allowance plus $15,000

Status: An employee accepting this offer will be placed on retired status with no right to recall.

This will work for those that have something in mine like self-employment.

 

[OldGuyinPA]

That would probably be enough. There would be a mass exit...

 

[noname]

Read the proposal closer. You will not be able to tap into your 401k until age 55. All you would get now is:

Normal retiree healthcare coverage;
Normal retiree lifetime travel privileges;
An amount equal to the employee's normal furlough allowance plus $15,000

Status: An employee accepting this offer will be placed on retired status with no right to recall.

This will work for those that have something in mine like self-employment.

That would work for me!!! And many others with the time and age would leave in droves.
There would have to be a massive hiring to replace all that leave.(The majority of new hires in Res last less than 5 years.)

 

[D M G]

you can't tap into a 401K before age 59 1/2, without incurring a tax penaly IIRC

Wrong.

You can take distributions before 59 1/2 as long as you set up a distribution schedule and withdraw the money in "substantially equal payments" based on your life expectancy. I think, but I'm not 100% sure, that you have to stick with the distribution schedule for 5 years or until age 59 1/2, whichever is longer. After that time frame you can then take withdraws as you wish.

It would be nice to have them offer an early out, but I don't think it will happen.

 

[Reservation Agent]

Not sure if there would be enough votes from CWA workers to pass this...

But if it did, it would probably save the company alot of money now, and in the future...from the top scale earners, many of whom work alot of overtime, since there is an extreme shortage of agents & no hiring...Seems like it would open up slots to be filled by new agents at the beginning pay scales, similar to other "low fare" airlines starting pay...And, savings realized on other company benefits too..like lower preminums for health insurance, sick days, etc....

 

[Tim Nelson]

IMO, many employees would take this early out. R U Kidding me?
Is the buy-out a good one? No, but it is adequate and fair to many employees who want to get out and move on with their lives, yet they don't want to quit and get nothing. Seems like a win-win for the company and these employees. Interesting indeed.

My guess is about 400 CWA Ticket agents. If the IAM were to participate I would venture 700 members would take it and move on with their lives.

regards,

 

[Hello Newman]

Would you prefer Glass coming back to the table like last time and cursing everyone out again?

This thread is for CWA members. To find out who they think should receive this offer if it happens.

Lets try to stay on topic.....

Did Glass really curse everyone out?

 

[deltawatch]

Did Glass really curse everyone out?

<_< I understand the man has a raunchy mouth.....

The only way this buy-out will work for the company is if we agree to no more recalls for anyone on furlough now or anyone that takes this offer.

Since they had hired off the street in reservation no one on furlough had to be, it's by choice. The 50 and 15 offer could then be an ongoing offer.