Anyone who thinks it’s over May 21st doesn’t have a clue. This is only the beginning. If you are lucky enough to get a package count your blessings. For those left at Alcatraz-East in Dearborn next up the pensions for those eligible remaining will be frozen, work hours increased, upward mobility stifled. Within the next 3-5 years the next recession will be the impetus for massive layoffs making the current redesign look like a tic. Why do you think this “redesign” (mass-lay-off of blue badges) is occurring now when the economy is strong? Writing is all over the wall. Plan accordingly.
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Um, what I s this post exactly? Pensions already frozen, capped at 30 years ( used to be unlimited, then 35 years,). Add rob he fact anyone hired after 2003 doesn’t even have one, not more they can really cut in terms of pension costs.
@YXhDNA6-ual so a pension, 401k, and social security aren't enough for you to retire on? Maybe its time to sell off the extra homes and quite the coc--ne.
And don't mention how you did, when 95% of those around you couldn't.
hi RKY, f**k your line of thought. You and most everyone else knows, you can't retire on what is offered, even with proper planning. The goal posts are constantly moved, and inflation eats up anything extra you may acquire. When you reach this age, and you will, you will find wisdom dealing a hard lesson in life.
hi RKY, f**k your line of thought. You and most everyone else knows, you can't retire on what is offered, even with proper planning. The goal posts are constantly moved, and inflation eats up anything extra you may acquire. When you reach this age, and you will, you will find wisdom dealing a hard lesson in life.
Pensions are a luxury in today’s automotive market
35 years and out should have been the rule if you were lucky to get their pension and half a-- health care insurance. This includes salary and UAW. Let young people get a start, and grow.
I have a blue badge. The pension thing is a non-starter...they handled that years ago. Nobody cares any more. I'm 10 yrs and no pension and I am definitely not on the "desired employee demographic" list. They are laying off salaried right now because 2019 is a contract year for the UAW. I'm betting the Ford strategy is simple. Go into negotiations in August with all sorts of data about how much the salaried people have suffered. How many laid off, how many didn't get raises or bonuses, etc. Then add all the data about business performance. Trump's tweet about raising the tariff to 25% will be used heavily by the negotiators against the UAW. As in "look how poor we are, look how high costs went through no fault of our own" blah blah blah. Gotta think bigger, longer term. General employees and LL6 supervisors are chaff in the wind at Ford. No one at Ford gives a lick about any of them, they have been telegraphing this for years with various policy changes.
The pension has been gone 15 years for new hires. Those remaining after previous layoffs and attrition plus this year’s purge will be minimal. I don’t expect any changes for those left other than possibly freezing it at 30 instead of 35 years. I’d be interested in how many employees have the traditional pension and what percentage. Salaried. No idea on the UAW side. I believe full-time UAW still have a pension plan for even new FT hires. Not talking about the newbies making the $18 an hour hoping to become FT UAW.
The pension freeze is inevitable. They capped at 35 years a few years back. That has influenced some, but not all, to leave after 35 years of service. I could see them taking iterative steps such as moving the cap to 30 years in 2020, 28 years in 2022, 26 years in 2024, 24 years in 2026 - at which point everyone left who had a pension would be frozen and given some choices.
They would also nudge chair warmers out the door and equalize benefits going forward.
Mine is just guessing, based on observations at Ford and in the industry. They need to do something, but if they do an overnight change, they will incentivize the best people to hit the pavement post haste.
Inside source or speculation?