UPS Teamsters Approve New Contract
Contract Sets $6.1 Billion Pension Fund Withdrawal
UPS employees represented by the International Brotherhood of Teamsters have voted to approve a new five year labor contract, the parcel carrier said.
The contract includes a provision that will allow the parcel carrier to pay $6.1 billion to leave the Teamsters’ Central States Health & Welfare and Pension Funds.
The new master contract, which covers about 240,000 UPS workers, was approved almost a year in advance of the current contract's expiration on July 31.
The contract was approved by a 65.03% margin, UPS said.
