recent estimate that 16,000 to 20,000 of the 115,000 eligible employees would accept the buyout package. Nearly 62% of voters predicted a higher number.
But voters also concluded that the "in the range of 35,000" estimate from William Burrus, former APWU president, is too high. Only one-fifth of voters predicted that more than 30,000 members of the Postal Service's largest labor union would call it quits.
The buyout package includes $15,000 and, for many employees, an even more valuable opportunity to take Voluntary Early Retirement.
Dead Tree Edition estimates that, if successful, the buyout program could reduce the Postal Service's compensation costs by more than $1 billion annually. But USPS seems to be doing little to present the buyout package in the best light, for example sending thousands of employees inaccurately low estimates of their retirement benefits.
Ironically, the APWU, which stands to suffer a significant loss of dues income as a result of the buyouts, is doing more than USPS to clear up the confusion about retirement benefits that may dampen response to the offer.
For example, it sent out a bulletin today informing members about the FERS annuity supplement, about which the Postal Service has been mostly silent. And Burrus urged those considering retirement to "take the money and run" because the Postal Service is unlikely to offer them a similar incentive in the future.
- USPS Seeks 'Soft Landing' For Downsized Employees, Donahoe Says
- USPS Planning Retirement Incentives To Help Downsizing, Donahoe Testifies
- Response to Buyout Offer Better Than USPS Expected
- New Poll: How Many Postal Workers Will Take the USPS/APWU Buyout Incentive?
- The Hidden Benefit of Postal Service Retirement