Early Outs For Cwa

[lovesthesouth]

Any news today about how the early outs were to be distributed within the CWA group? Last I heard , the company wanted the flexibility to change the award date, meaning if you were given the early out as per the seniority list, they wanted to be able to change that date you were given to leave. Just curious if anyone has heard anything......I am anxious to get this ball rolling and get out of here!!!

 

[Baja4U]

Any news today about how the early outs were to be distributed within the CWA group? Last I heard , the company wanted the flexibility to change the award date, meaning if you were given the early out as per the seniority list, they wanted to be able to change that date you were given to leave. Just curious if anyone has heard anything......I am anxious to get this ball rolling and get out of here!!!

[post="241142"][/post]​

Good luck to ya!!!

 

[genejockey]

Any news today about how the early outs were to be distributed within the CWA group? Last I heard , the company wanted the flexibility to change the award date, meaning if you were given the early out as per the seniority list, they wanted to be able to change that date you were given to leave. Just curious if anyone has heard anything......I am anxious to get this ball rolling and get out of here!!!

[post="241142"][/post]​

[/quote

As I have said many times before;

Fool me once...shame on you. Fool me MANY times shame on you!

You people got exactly what you voted for.....Hook, Line & SUCKER!

 

[wench]

BINGO!!

When will the employees STOP VOTING THE GIVEBACKS?

When they're all EXPRESSED OUT_

It's too late...then...

Dummies......for givebacks!

 

[4merresrat]

Any news today about how the early outs were to be distributed within the CWA group? Last I heard , the company wanted the flexibility to change the award date, meaning if you were given the early out as per the seniority list, they wanted to be able to change that date you were given to leave. Just curious if anyone has heard anything......I am anxious to get this ball rolling and get out of here!!!

[post="241142"][/post]​

[/quote

As I have said many times before;

Fool me once...shame on you. Fool me MANY times shame on you!

You people got exactly what you voted for.....Hook, Line & SUCKER!

[post="241272"][/post]​

NICE :down:

 

[28yrsnojob]

FORGET ABOUT THE EARLY OUTS,YOU WILL WAIT FOREVER

 

[tadjr]

PLEASE POST AND DISTRIBUTE TO YOUR CO-WORKERS
Additional stories are on www.CWA.net


CWA US Airways UPDATE:
01/25/2005
Early Out packets and information will be distributed tomorrow, January 26 EO information and applications will be available to CWA represented passenger service employees beginning tomorrow, Wednesday, January 26. The packets will be available and distributed at each US Airways workplace.
Q's and A's about CWA's agreement with management to postpone the distribution of the US Airways stock that is owed to CWA represented passenger service employees under our 2003 agreement...
CWA'ers and management reached agreement to defer the stock distribution that was supposed to have taken place on January 1, according to our 2003 agreement. The deferral will benefit employees because the value of the stock while the company is in bankruptcy is so low that the immediate payroll deduction for taxes and FICA for the value of the stock, plus the commission cost to sell the stock, would almost be more than the value of the stock itself.
The company has agreed to defer the distribution until the future value of the stock becomes clearer.


Q: Why has CWA decided to agree to US Airways' offer to defer the vesting of stock until closer to the company's emergence from bankruptcy?
A: Under the terms of our stock vesting plan, each CWA member eligible for vesting in stock was entitled to vest in 56 shares of US Airways restricted stock as of January 1, 2005. On that date this stock was trading at $1.20 per share. Therefore, the value of the stock for income tax purposes for each eligible member was $67.20. The company would have been required by federal tax laws to withhold taxes on the value of the vested stock, and the company would take these withholding taxes directly out of employees' paychecks. Although the amounts of withholding would vary depending on state and local taxes, the company would deduct about $25 from each employee's paycheck to pay the withholding taxes and the employees' share of FICA and social security taxes. Thus, if the stock vested on January 1, 2005, the stock vesting would be worth little or nothing to CWA members because members would need to sell the stock and pay commissions and transaction costs to realize any value in the vested stock, and these would eat up virtually all of the remaining value of the stock after taxes were paid.
Accordingly, CWA has agreed with US Airways to defer the vesting of the stock until a date closer to the company's planned emergence from bankruptcy. At that point, if the stock value were higher, CWA could opt for the vesting, because the stock's increased value might make it worthwhile for members to pay both the taxes and commissions on the sale of the stock. If the stock value were lower, CWA would not opt for the vesting, because the combination of taxes and commissions would render vesting in the stock a losing proposition. In any case, CWA believes it makes sense to defer the vesting until the stock is either clearly worth more or until vesting clearly should be cancelled because it provides no value to our members after taxes and commissions are paid.
US Airways did not distribute its stock to its employees on January 1, 2005, as it was required to. Instead, it filed a motion to cancel the stock distribution as contrary to the requirements of the Bankruptcy Code. The bankruptcy court will hear this motion on January 27. CWA has reached an agreement with the company to defer the vesting of stock until a later date; the bankruptcy judge is expected to approve this agreement at the hearing on January 27. ALPA, which was offered the same agreement, has decided not to take it and instead to oppose the company's motion.
Q: Why hasn't ALPA agreed to the company's offer to defer the stock vesting?
A: ALPA had apparently decided that its members would benefit from the stock distribution despite the withholding tax and commission costs. This decision might make sense for ALPA members because most may receive enough stock to make the payment of withholding taxes and commissions on the sale of stock a worthwhile proposition; CWA believes that this is not the case for CWA members.

 

[pitreschick]

Now that we are getting our eo packets when are they going to tell us which office
is closing.....the trib is reporting its pit

 

[DCAflyer]

Now that we are getting our eo packets when are they going to tell us which office
is closing.....the trib is reporting its pit

[post="242267"][/post]​

I suspect they won't make an announcement until after all of teh early out applications are submitted to the company.

 

[RumorS]

Now that we are getting our eo packets when are they going to tell us which office
is closing.....the trib is reporting its pit

[post="242267"][/post]​

From the trib.......

Over the next few months, US Airways is expected to close a reservations center in Green Tree, where almost 800 are employed, and to cut about half of the roughly 2,000 mechanic and mechanic-related jobs at its Pittsburgh maintenance facility.

 

[WestCoastGuy]

Just as a side note to the employee vesting in the stock options, I had filed for retirement on Oct 25 for an effective date of Feb 1. I continue to get no information from Benefits and today spoke with them again. Each time I get a different response. Now they have no information or effective date of the start of pensions. They have no information on health care or buy back of unused sick days, as was agreed upon in the CWA contract. If retirement commences on Feb 1, no pension checks will be issued until a future unknown date. No information on the amount of the monthly retirement. No information regarding medical coverage or sick time buyout will be available until some future date. It is not known if health care coverage will continue. If you retire on Feb 1, you will be in limbo with regard to any future pension, health care, or sick day buy back. No one there knows. You can retire but have nothing.

 

[pitreschick]

With the early out packages how soon does u issue your check....I didn't see anything in the new contract

 

[tadjr]

I continue to get no information from Benefits and today spoke with them again. Each time I get a different response. Now they have no information or effective date of the start of pensions.

[post="242298"][/post]​

This seems to be a common problem. We had a couple of agents here trying to retire, but they cant get any information that will help them decide if they can afford to. Someone really needs to get this cleaned up if they want people to leave. I know of several who would already have left if they could get some answers. The longer this drags out, the longer the senior guys are going to hang around.

I$ $omeone li$tening? It$ co$ting the company $ that could be $aved by a $enior per$on leaving and a junior per$on being hired.....

 

[noname]

From the trib.......

Over the next few months, US Airways is expected to close a reservations center in Green Tree, where almost 800 are employed, and to cut about half of the roughly 2,000 mechanic and mechanic-related jobs at its Pittsburgh maintenance facility.

[post="242277"][/post]​

pitt trib

 

[Baja4U]

From the trib.......

Over the next few months, US Airways is expected to close a reservations center in Green Tree, where almost 800 are employed, and to cut about half of the roughly 2,000 mechanic and mechanic-related jobs at its Pittsburgh maintenance facility.

[post="242277"][/post]​

Get this over already, I'm ready for a vacation!!!!