I guess Mike doesn't have to hold an All-Hands meeting now. Lucky for him! I can't wait to hear about all the new conversions who get tapped and start bitching about their two weeks of severence pay! Bwwaaaa! Bwaaaa!
I have typed in the modified paragraph below to save you the trouble of opening the PDF file.
“Modify Part III, Section J, Appendix A, SECTION V – COMPANY SERVICE CREDIT second paragraph to read as follows:
In addition, employees transferring directly from LANS Parent Companies or Affiliates of LANS Parent Companies will retain credited service for years of work performed on DOE Management & Operating, Environmental Management and the other DOE Prime contracts, with their parent company or affiliate (including predecessor contractors), for purposes of determining eligibility for TCP1 retiree medical benefits and severance pay. For purposes of determining eligibility for TCP1 retiree medical benefits and the earned benefit level, such service credit will be frozen upon transfer to LANS. For purposes of determining severance pay, years of service will continue to accrue after transfer to LANS up to a maximum benefit allowance of 26 weeks.”
Looks to me like Bechtel and BWXT now have a rather convenient dumping ground for employees who are close to retirement.
Send them over to LANL, let them work for a year or two before they retire, and then LANL pays for all their retirement and pension benefits.
What a wonderful way to offload liabilities from the books of the corporate partners and onto the back of a financial sinking ship called LANL. It's brilliant!
In case you didn't know about it, seems that Director Miller over at LLNL has just told LLNL staff what to expect in terms of their RIF. You can read about it over at the "LLNL the Final Story" blog. Here are some excerpts of what people over there are saying as of Monday night:
++++++++++++++++++++++++++ Monday, November 12, 2007 To Tell The Truth ++++++++++++++++++++++++++
So, George Miller had his speech and the bottom line is that 500 contractors & flex terms will be out the gate by Jan 08. In Jan, the idea of RIFing "career" employees will be decided on. If the RIF is to occur, 300 employees will be targeted and out the gate by March 08.
He addressed several rumors;
1) LLNL will not close during the holidays.
2) EBAs and folks who chose TCP2 are not being targeted specifically for RIFs.
3) He donated (or is in the act of.) his $50K bonus for transitioning LLNL to charity.
4) ULM has not received huge raises, they are on hold with the rest the CIP.
5) 100-300 employees did NOT come from Bechtel and other LLNS LLC sponsors, but rather 39 to 40 did.
6) Of those 39 or 40, they did not get huge salaries but rather received what other LLNL employees would get in the same positions.
The were a few others but I can't recall them now.
George concluded his speech on the verge of tears and departed before questions could be asked.
Posting this so that folks outside LLNL will know what's going on.
(November 12, 2007 3:50 PM)
**********
What got me was the cost of each employee. It use to be $300K per person until LLNS took over. Now George tells us that for any person who makes a salary of $100K it cost the lab $400 - $600K out of the budget. Where in the hell does that money go?
The bottom line was that 800 people should be gone by Jan and that's only if the budget comes in what they think it's going to be, but if it comes in less than thought, that 800 will probably go to 1,700 term and contract employees and 300 + FTE's. Now that's the 20% we were striving for.
So we are $300M in the hole and the SIP may or may not be retroactive. I think what they're trying to tell us is wages are frozen from now on....
(November 12, 2007 8:26 PM)
**********
George gets up on the stage and says we cost too much. Says it's been going on for years and that he saw it last year in paticular, for FY07.
If he saw it, he must have kept it to himself because we had memebers of the LLNS Leadership Team saying that they were suprised by the budget shortfall. What the eff was this highly paid, crackerjack team doing in the time between the contract award and Sept 18, when they saw the TCP numbers. If any of us performed so poorly on our assignments, I guarantee you we'd be out the door!
This is the same transition team that repeatedly told us that we should not fear layoffs or workforce restructurig beyond normal attrition. They've got a lot of credibility.
I guess Mike doesn't have to hold an All-Hands meeting now. Lucky for him! I can't wait to hear about all the new conversions who get tapped and start bitching about their two weeks of severence pay! Bwwaaaa! Bwaaaa!
ReplyDeleteI have typed in the modified paragraph below to save you the trouble of opening the PDF file.
ReplyDelete“Modify Part III, Section J, Appendix A, SECTION V – COMPANY SERVICE CREDIT second paragraph to read as follows:
In addition, employees transferring directly from LANS Parent Companies or Affiliates of LANS Parent Companies will retain credited service for years of work performed on DOE Management & Operating, Environmental Management and the other DOE Prime contracts, with their parent company or affiliate (including predecessor contractors), for purposes of determining eligibility for TCP1 retiree medical benefits and severance pay. For purposes of determining eligibility for TCP1 retiree medical benefits and the earned benefit level, such service credit will be frozen upon transfer to LANS. For purposes of determining severance pay, years of service will continue to accrue after transfer to LANS up to a maximum benefit allowance of 26 weeks.”
Looks to me like Bechtel and BWXT now have a rather convenient dumping ground for employees who are close to retirement.
ReplyDeleteSend them over to LANL, let them work for a year or two before they retire, and then LANL pays for all their retirement and pension benefits.
What a wonderful way to offload liabilities from the books of the corporate partners and onto the back of a financial sinking ship called LANL. It's brilliant!
Yes but long-term contractors get screwed out of service credit no matter what.
ReplyDeleteIn case you didn't know about it, seems that Director Miller over at LLNL has just told LLNL staff what to expect in terms of their RIF. You can read about it over at the "LLNL the Final Story" blog. Here are some excerpts of what people over there are saying as of Monday night:
ReplyDelete++++++++++++++++++++++++++
Monday, November 12, 2007
To Tell The Truth
++++++++++++++++++++++++++
llnlthefinalstory.blogspot.com/
2007/11/to-tell-truth.html
**********
So, George Miller had his speech and the bottom line is that 500 contractors & flex terms will be out the gate by Jan 08. In Jan, the idea of RIFing "career" employees will be decided on. If the RIF is to occur, 300 employees will be targeted and out the gate by March 08.
He addressed several rumors;
1) LLNL will not close during the holidays.
2) EBAs and folks who chose TCP2 are not being targeted specifically for RIFs.
3) He donated (or is in the act of.) his $50K bonus for transitioning LLNL to charity.
4) ULM has not received huge raises, they are on hold with the rest the CIP.
5) 100-300 employees did NOT come from Bechtel and other LLNS LLC sponsors, but rather 39 to 40 did.
6) Of those 39 or 40, they did not get huge salaries but rather received what other LLNL employees would get in the same positions.
The were a few others but I can't recall them now.
George concluded his speech on the verge of tears and departed before questions could be asked.
Posting this so that folks outside LLNL will know what's going on.
(November 12, 2007 3:50 PM)
**********
What got me was the cost of each employee. It use to be $300K per person until LLNS took over. Now George tells us that for any person who makes a salary of $100K it cost the lab $400 - $600K out of the budget. Where in the hell does that money go?
The bottom line was that 800 people should be gone by Jan and that's only if the budget comes in what they think it's going to be, but if it comes in less than thought, that 800 will probably go to 1,700 term and contract employees and 300 + FTE's. Now that's the 20% we were striving for.
So we are $300M in the hole and the SIP may or may not be retroactive. I think what they're trying to tell us is wages are frozen from now on....
(November 12, 2007 8:26 PM)
**********
George gets up on the stage and says we cost too much. Says it's been going on for years and that he saw it last year in paticular, for FY07.
If he saw it, he must have kept it to himself because we had memebers of the LLNS Leadership Team saying that they were suprised by the budget shortfall. What the eff was this highly paid, crackerjack team doing in the time between the contract award and Sept 18, when they saw the TCP numbers. If any of us performed so poorly on our assignments, I guarantee you we'd be out the door!
This is the same transition team that repeatedly told us that we should not fear layoffs or workforce restructurig beyond normal attrition. They've got a lot of credibility.
(November 12, 2007 10:48 PM)
**********
country goes down the toilet while bush spends trillions on his foolish wars that can't be won
ReplyDeleteCredibility? What's that?
ReplyDelete"Looks to me like Bechtel and BWXT now have a rather convenient dumping ground for employees who are close to retirement.
ReplyDeleteSend them over to LANL, let them work for a year or two before they retire, and then LANL pays for all their retirement and pension benefits."
IIRC, Bechtel doesn't offer a traditional pension plan to its employees - or am I mistaken?
I know Bechtel Nevada did, but that's only because they were a successor contractor to REECo, Raytheon Services, etc. at the NTS.