UPS, Teamsters Agree on New Contracts
UPS Inc. and the Teamsters union said they have reached tentative agreement on two new five-year labor contracts in the company’s small package and freight business units.
The agreements, which take effect Aug. 1, must still be approved by Teamster-represented employees.
The tentative pact, which covers nearly 250,000 workers at UPS and its less-than-truckload unit UPS Freight, is the largest collective bargaining agreement in North America, the Teamsters said in a statement.
“These are solid agreements that all Teamsters, and UPS, can be proud of,” said Ken Hall, the Teamsters General Secretary-Treasurer, who co-chairs the union’s national negotiating committee.
“These agreements are a ‘win-win-win’ for our people, customers and shareholders,” said Scott Davis, chairman and CEO of UPS.
“The fact that we have reached agreements well before our current contracts expire is a testament to the skills and determination of all those involved in these negotiations,” Davis said in a statement.
UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
