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UPS, Teamsters Reach Tentative Labor Deal to Avoid Strike
Posted
July 25, 2023
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July 25, 2023
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0:44Now PlayingUPS reached a tentative agreement to renew a five-year labor contract with the Teamsters ahead of the July 31 deadline, giving relief to stressed shippers and removing a share-price overhang for investors concerned about a costly strike.
The agreement, which has to be ratified by the about 340,000 teamsters that it covers, contains $30 billion of new money from UPS over the life of the contract, according to a statement Tuesday from the International Brotherhood of Teamsters.
“The union went into this fight committed to winning for our members,” Teamsters President Sean O’Brien said in the statement. “We demanded the best contract in the history of UPS, and we got it.”
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