Postal Service to offer Early Retirements

[James48843]

Postal Service offering early retirements

By Randolph E. Schmid, Associated Press
August 20, 2008

WASHINGTON (AP) - In lackluster economic times, not even postal workers enjoy much of a security envelope.
Faced with losses that could near $1.5 billion this year, the U.S. Postal Service is offering early retirement -- without incentives or bonuses -- to thousands of clerks, mail handlers and supervisors.

The push to cut costs involves retirement offers to workers 50 and older who have 20 years of service and employees of any age who have 25 years of service. The agency began the fiscal year last Oct. 1 with 684,762 career employees, down from 696,138 a year earlier.

Anthony J. Vegliante, the Postal Service's vice president for human resources, said Wednesday that as many as 130,000 workers may be eligible for the offers, some of which are already in the mail. He declined, however, to predict how many would accept them.

More: http://govexec.com/story_page.cfm?articleid=40781&dcn=todaysnews

[nnuut]

"without incentives or bonuses" Boy, they are going to have a hard time with this one!! :mad:

[luv2read]

I'd take it. Early out, or eliminate the position = no reduction.

[Silverbird]

I'd take it. Early out, or eliminate the position = no reduction.Heh, people will only take it if they have something lined up. Job market out there not too good.:worried:

[luv2read]

Heh, people will only take it if they have something lined up. Job market out there not too good.:worried:
I'm not looking to go back to work if I can help it...I want to enjoy life...I have a long list of "do before I die".....

[Show-me]

Only one's that will take it are the one's that are CSRS and/or FERS that have a fat TSP account or other assets. So that being said, how many took the buy and hold approach while chasing the best preforming fund, the I fund. If they rode it down like Birch they can't afford to retire now.

[Show-me]

http://apwu.org/news/burrus/2008/update12-2008-100308.htm

USPS Financial Difficulties
And the Possibility of Layoffs
Burrus Update #12-08, Oct. 3, 2008
There has been significant interest in my Sept. 30 Update (http://apwu.org/news/burrus/2008/update11-2008-093008.htm)for union members, which discussed the Postal Service’s bleak financial situation and the presidential election: Interest has been especially high about the reference to the possibility of layoffs – for the first time in postal history.
Let me be clear: The possibility that the Postal Service may exercise its authority to layoff career employees is real, but it would affect very few APWU-represented employees. The 2006-2010 Collective Bargaining Agreement guarantees that each employee who is employed in the regular work force as of Nov. 20, 2006, “shall be protected henceforth against any involuntary layoff or force reduction during the term of this Agreement.”
The agreement also provides that “upon completion of six years of continuous service in their regular workforce” APWU-represented employees are protected against any involuntary layoff or force reduction “during any period of employment in the regular work force with the United States Postal Service or successor organization in his or her lifetime.” To receive credit for the year, an employee must have worked at least one hour (or received a call-in guarantee in lieu of work) in at least 20 of the 26 pay periods during that anniversary year.
APWU-represented employees who meet the criteria listed above are protected for the life of the 2006-2010 National Agreement or for their lifetime, and are not threatened by layoffs resulting from the significant decline in mail volume or the USPS financial difficulties.
If the Postal Service’s offer of early retirement fails to reduce the workforce commensurate with USPS budgetary problems, the Postal Service will have a continuing need to reduce the number of employees. I expect that non-protected employees will be exposed to the possibility of layoff.
During a meeting between Postmaster General John E. Potter and the union presidents last month, he reported that 16,000 postal employees lack protection against layoffs. Members of the Mail Handlers Union and the APWU have the protections described above.
The threat of layoffs is just one of the factors mentioned in my previous Update, which informed union members that the November elections have great significance for postal employees and are much more personal than abortion, guns, gay marriage and terrorism. This time it is about your job.
William Burrus
President

[Show-me]

Word is RIF is coming and that USPS went to Congress yesterday looking for a bail out. We are doomed as a Country.

[Show-me]

My opinion is get your houses in order. Government cuts are coming. VERA was the carrot, lay offs and RIF is the solution.

[CountryBoy]

My opinion is get your houses in order. Government cuts are coming. VERA was the carrot, lay offs and RIF is the solution.

Not to panic anyone either, for the last 9 months or so, I've felt this was coming down the road and things have gotten a heck of a lot worse. Other goverment agencies have been going thru some sort of RIFs. So I agree with Show-me, we'd all better start getting our houses in order.

I'll probably go if I can take my health insurance with me, since I have 23 years in at age 54. We've been busting our buns to get things paid off and are down to just one loan that'll be paid off in March 2009, but fortunately, the best thing is I have another job that is on the table and had planned on going there anyway, now it just maybe sooner.

CB