USPS to offer early retirement incentives

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Update: 4:27 p.m.: We’ve got a story posted about this over on the mothership. And APWU has details on who, exactly, qualifies for retirement/early retirement under this buyout program. If you don’t quality for either, again, you can still take the $15,000 incentive and resign from the Postal Service

Update, 2:43 p.m.: Just to clarify, the offer will be extended to a) employees already eligible for retirement, b) employees who were eligible for previous early retirement programs and declined them, and c) any employee represented by APWU or NPMHU who wants to take the $15,000 and leave the Postal Service, according to postal spokeswoman Yvonne Yoerger.

In that last case, I guess it becomes more of a buyout program instead of an early retirement program.

Original post: Just in from USPS: The Postal Service will offer early retirement packages to 30,000 employees over the next few months — and, for the first time, the packages will include incentives to retire.

Eligible employees would receive a $10,000 payment in the first three months of fiscal year 2010 (Oct. 1 – Dec. 31 of this year), and a second payment of $5,000 at the beginning of fiscal year 2011. The deals will be offered to members of two unions, APWU and NPMHU.

The Postal Service has offered several rounds of early retirement offers before. Few employees accepted the offers; union leaders and rank-and-file workers complained that they wouldn’t accept early retirement without a financial incentive.

More details to come soon…

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  1. 15 k paid over 2 yrs. OH BOY!!! Where do I sign. You still get penalized if you do not have the age or time in. This is a joke. This is proof that the clowns who run the Postal Service should be parking cars not running a business the size of the PO.

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