Southwest Considring Employee Buyouts

[hobbes]

As I was told by some more senior employees, this is NOT the first early retirement program. This was apparently done once in the late 80's? Can anyone confirm this, because I'm just hearing it from some very senior employees?

"Who thinks this has really been the #1 question asked by employees?"

Yes, believe it or not, headquarters has been receiving many questions in regards to an early retirement package. I wouldn't doubt at all that it was the #1 consistent question being asked. Especially after the Reservations consolidation, many employees were asking if a similar package was going to be offered for non-Reservations employees. For those who were already considering retirement, it is a darn good deal.

 

[SWAFA30]

As I was told by some more senior employees, this is NOT the first early retirement program. This was apparently done once in the late 80's? Can anyone confirm this, because I'm just hearing it from some very senior employees?

According to this piece that appered on Yahoo News, buyouts were indeed offered back in the late 80s:

http://biz.yahoo.com/rm/040527/airlines_southwest_2.html

"......Southwest offered buyout packages most recently to 1,900 employees in November 2003. About half of those workers -- reservations employees in Dallas, Little Rock and Salt Lake City as well as field marketing employees -- took the deals. Prior to that, the company offered buyout packages to some employees in 1988, Harbin said. "

 

[swflyer]

More actual information:

Freedom '04 is a one time only Voluntary Resignation and Benefits Package offered to all Southwest Employees who have been employed with Southwest for at least one year as of June 25, 2004 who are not Officers of the Company. The Freedom '04 Agreement consists of a Letter of Resignation, a Benefits Package enrollment form, a description of Benefits Package options and an explanation of Other Terms and Conditions.

The link below is the entire package: