How many Title 1 AMT's will take the early out?
- Thread starter 2ndgenAAer
- Start date
IIRC, something about forming a committee, then I suspect there will be a 30 day window for anyone wishing to take the buyout. Both the company and the union said it would be 6-9 months before any movement would occur. Plus before the judge has to rubber stamp the LBO2 POS before they can do anything, which I think I saw somewhere that it doesn't even go to the judge for approval until early September.
TWU informer
Veteran
- Nov 4, 2003
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Many were hoodwinked into voting yes to "save jobs" and yet the seniority list will 2500+ less than today within 6 months of DOS
Saved what jobs?
The TWU Claiming this T/A saves jobs is the equivelent of Iran Claiming they are not making a Nuclear Bomb.
Charlie Willis
Member
- May 21, 2012
- 16
- 9
The 'early out' will happen much sooner than what everyone thinks. The Company would like to start sending out warning letters this September. The Company just wants to know how many people will take the offer, this doesn't mean they will be leaving immediately.
[font="Arial""]There will be a date set for last day on the job for early outs. That way the RIF can be calculated properly. If you are over 60 I would take it. You will never see this kind of money again because a six year contract may mean 8 years before another possible offer. At 60 you could make some bucks for a few years contracting at Mobile or as a rep/consultant wherever and still fly home on the weekends. Some guys are getting $70,000 plus with prefunding. Pay the house off, buy a boat or put it in an annuity to pay for some good health insurrance for you and your family. Spend it now while you have good health. Ya can't take it with you when you die. Life is short. I would go and enjoy it while you can. [/font]
xUT
Veteran
Your new TA just took away retiree medical and froze their pensions.
The gooberment is looking to reduce SS benefits as well.
Every retirement financial analyst recommends working until you physically can't or have $2 million in retirement savings.
Retirement is retirement and a retiree should not have to work. Getting a new job at 55+ is an impossible task and starting over as a probie is pretty demeaning.
Also, the flight benefits rules are fluid and can be changed anytime without notice.
I know you junior guys would like to see the senior guys leave to save your jobs but that isn't going to happen.
B) xUT
Frank Szabo
Veteran
IF - the company actually follows through with the aircraft order, there WILL be a maintenance holiday and the people WILL be shown the door - regardless of whether or not this football bat of a contract was passed or not. The company CANNOT shut down its maintenance program just because a contract was rejected, that is, unless flying ceases after their aircraft run out of time, one by one.
The jobs "saved" are temporary in nature but - unless the contract was ratified the company would not reimburse to twu for its legal fees paid (I remember reading something about that). Gotta do that so as not to make the VP return their cars or take a salary hit.
TWU informer
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- Nov 4, 2003
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Has anyone seen "certified results" from Ballot Point yet?
And I mean signed and certified results direct from Ballot Point?
And I mean signed and certified results direct from Ballot Point?
Frank Szabo
Veteran
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The requirements for the early out are 45 years old with 15 years of service. It's not so much an early retirement incentive as it is an early "get the hell out and do something else where you can make more money" incentive. Sure, for those close to retirement, it's found money that will give the kick in the pants to just retire already and for those who are 45 or older, but not ready to retire, it should serve as a kick in the pants to prepare the resume and find a higher paying opportunity.
It's your future, not mine, but IMO, you'd be crazy to stick with the airline industry. UPS has just 1,000 very highly paid AMTs and WN has fewer than 3,000 and neither is hiring in huge numbers. As I pointed out the other day, find something that needs fixing that's owned by a monopolist, not in a highly competitive industry where nearly everyone files for Ch 11 periodically to slash wages and benefits. Municipal transit systems don't have any competiton. Public utilities. Even local car dealers don't tend to file Ch 11 very often. Although the Ford or GM dealer doesn't offer standby flight benefits, they do offer employee discounts on new cars and trucks. And with the additional income, buying confirmed tickets would be easier.
Keep an eye on one another and be there for your friends, as it is a very difficult time. Best of luck to all.
It's your future, not mine, but IMO, you'd be crazy to stick with the airline industry. UPS has just 1,000 very highly paid AMTs and WN has fewer than 3,000 and neither is hiring in huge numbers. As I pointed out the other day, find something that needs fixing that's owned by a monopolist, not in a highly competitive industry where nearly everyone files for Ch 11 periodically to slash wages and benefits. Municipal transit systems don't have any competiton. Public utilities. Even local car dealers don't tend to file Ch 11 very often. Although the Ford or GM dealer doesn't offer standby flight benefits, they do offer employee discounts on new cars and trucks. And with the additional income, buying confirmed tickets would be easier.
Keep an eye on one another and be there for your friends, as it is a very difficult time. Best of luck to all.
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