UPS - UAW's Detroit Deadlock Vs. Teamsters' UPS Triumph: Behind 2 Major Labor Showdowns | Benzinga
The landscape of labor negotiations in the U.S. shifted this summer with two major union agreements coming into focus. The Teamsters' contract with United Parcel Service, Inc (NYSE: UPS) and the ongoing demands of the United Auto Workers (UAW) with Detroit's Big Three automakers provide a window into the dynamics of union negotiations.
The Teamsters' Triumph With UPS: In August, the International Brotherhood of Teamsters secured a contract with UPS, mitigating a potential strike that could have derailed U.S. supply chains and added substantial shipping costs.
The five-year contract, ratified by over 86% of Teamster-represented employees, is valued at approximately $30 billion (UPS said recently it's less than $30 billion). The deal was hailed by Teamsters General President Sean O’Brien as the "most lucrative" the union has ever finalized with UPS.
Under The UPS Agreement:
- Wages for UPS Teamsters will increase by $2.75 ...