Dec 12, 2007
Burlington Northern Cuts Exec. Severance - Forbes.com
Most terminated employees usually only receive what has accrued, or been earned, at the time their employment ceases. So there probably isn't much sadness amongst the ranks, seeing this adjustment.
It's a start but it would be more meaningful if there was no net at all to insure a soft landing when they cut 'em loose. Knowing you'll be paid in advance even if you get fired always seemed like a top performance incentive to me.
Severence pay is one thing but multiple years worth of it? It should be the same as the rank and file under the executive in question. In my case, I think they packed the golden parachute without a ripcord. The bosses should work under the same presumption.
"Burlington Northern said the changes were to bring policies in line with the current practices of other large companies."
Yes, BNSF likes to mirror lesser "other" companies when it comes to employee benefits. Regardless of historical record profits of it's own...just a sign of the times...greed to the extreme. The American work force is the most productive in the world or so we are told...funny, the corporations must think otherwise.
In keeping with Trainboard manners (Edit)....yes, that is correct.
If I were to be fired on Monday my health insurance would run out Dec. 31, and I would get my final paycheck, with my hours already worked plus my accrued paid-time-off all paid as one lump sum, with the check cut the same day.
I guess I am a fool. I should have just become an executive at a railroad, where I could have my head in the clouds all day, promote greenhorns to engineer positions and then blame them for all the problems, close down rail lines when they are making profit but not just gobs and gobs of profit, and if I were to get canned I could just vacation for a year or so while looking for another sucker... errr, job.
Well, I see no problems with the idea. As the topic is about reducing what most people feel are excessive executive compensations.
Ahhh, I should keep my mouth shut when it comes to politics and such topics here on Trainboard...this should be a place where we come to escape all that.
dear don, first i want to apologize for being so short with you. executives run amok are one of my pet peeves. i have been disabled since 2001 and our federal gov't, in its infinite wisdom tells me that it should be simple to live on my S.S.I. that by the way is a generous $623.00 a month. don't let me forget that $145.00 per month in food stamps. and that is while i had a teen living with me and going to school. now that the teen has graduated they dropped my stamps down to $98.00. it actually makes me sick to my stomach when these ceo's and such cry about how mistreated they are because they can't have three years to find another job. boo hoo. here in the real world...lose a job, sit on your butt for more than a week and even if you do go back to work, money flow becomes a major problem. i would give one of my legs to have two healthy lungs so that i could go back to work and earn that same $623.00. only thats what i made in an average a week. i'm afraid that this is only one of the problems that needs redress by and for the common man. excuse my preaching but if i want ANYTHING trains i have to save up over a period of months. i'll tell you what i got for christmas. i saved for two months and found a mi-jack intermodal trans lift for $17.50 plus S/H. it only meant three days per week of pinto beans instead of two. you understand, it is hard to hold your head up and be proud of anything when you live hand to foot. anyway i apologize for being so discourteous to you and any others that i might have offended. P.S. NOW TO SAVE FOR THE GLUE