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UPS contract agreement
(New York, NY) – The US economy dodged a big bullet on Tuesday as the United Parcel Service and members of the Teamsters Union agreed to a tentative contract, avoiding what could have been a crippling strike. The deadline to reach a deal had been July 31. The averted-strike would have cost the US economy upward of $7 billion, even if it lasted just 10 days.
UPS’ CEO Carol Tome says the agreement is a “win-win” for both employees of package carrier, as well as customers. Over 300,000 UPS workers are represented by the Teamsters Union. The new, five-year contract agreement could take several weeks to ratify.
