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Voluntary Layoff Benefits Option Offered
The Union and the Boeing Company continue to work to find ways to mitigate layoffs and in July reached a tentative agreement to allow some IAM 751-represented employees to volunteer for layoff with benefits. This option has not been offered to hourly IAM members since 1993. The Union has made several attempts to reinstate the program in previous layoff cycles.
The program is intended to provide another option for reducing the workforce in a way that allows the Boeing Company to retain employees with critical skills while allowing eligible IAM members with the opportunity to apply to be voluntarily laidoff.
"The Union renewed its push for this option when job cuts were first announced earlier this year. The theory is to offer an option that will accommodate the needs of individual employees, help the Company retain the skills it needs, and at the same time reduce the number of employees being surplussed. I appreciate Boeing working with us to offer this program to hourly members," stated District 751 President Tom Wroblewski. "This is especially appealing for those members who were planning to retire anyway. It is a win-win situation and allows those who want to leave another option, along with some additional benefits."
The Voluntary Layoff Benefits program has specific selection criteria. To be eligible for this program, an employee must be a member of a bargaining unit covered by IAM 751 and must be in a job skill area that has been declared in surplus by Boeing’s Skill Management teams. Eligible employees may apply for voluntary layoff benefits, and their applications must be reviewed and approved by the skill team.
Eligible participants will receive:
* A lump-sum payment of one week of pay for every two years of services (up to a maximum of 13 weeks of pay),
* Are eligible to receive a continuation of medical and dental insurance for up to six months after date of layoff, and
* May become eligible to begin receiving their pension benefits during the six-year period following layoff.
A couple points to keep in mind:
* Members who take a voluntary layoff forfeit their recall rights and lose seniority (the same as those accepting lump sum payment option on layoff benefits or those who retire from Boeing). Therefore, anyone requesting the voluntary layoff should be certain they will not return to Boeing in the future.
* Those taking voluntary layoff will simply be coded as laidoff for the purposes of reporting to state Employment Security Department.
* Voluntary layoffs will not be accelerated for an early release date.
* If more individuals apply for voluntary layoff than the required reduction, requests will be approved based on employees with the highest seniority.
Additional information about the Voluntary Layoff Benefits program for IAM 751-represented employees will be communicated as details are finalized Regularly check the iam website for additional details.