UPS Workers Ratify Five-Year Labor Deal with Overwhelming Support

One sentence summary – UPS workers have ratified a comprehensive five-year labor deal with an overwhelming 86.3% of votes, which includes wage increases, improvements to work rules and schedules, and other provisions, averting a potentially disruptive strike and aiming to provide fair compensation for workers’ contributions.

At a glance

  • UPS workers have ratified a comprehensive five-year labor deal with an overwhelming 86.3% of votes.
  • The agreement includes wage increases, improvements to work rules and schedules, and other notable provisions.
  • Part-time workers will see a substantial increase in their minimum hourly wage, rising from $15.50 to $21.
  • Full-time workers can expect to earn an average of $49 per hour, with specific wage adjustments over the five-year duration.
  • The successful ratification of the UPS labor deal aims to foster a more productive and harmonious work environment for its employees.

The details

UPS workers have ratified a comprehensive five-year labor deal, marking a significant milestone in the history of Teamsters at UPS.

The agreement received an overwhelming 86.3% of votes.

It includes wage increases, improvements to work rules and schedules, and other notable provisions.

The International Brotherhood of Teamsters, representing approximately 340,000 workers at UPS, reached the deal with the company last month.

This timely resolution averted a potentially disruptive strike that could have had a notable impact on the U.S. economy.

Under the terms of the agreement, part-time workers will see a substantial increase in their minimum hourly wage, rising from $15.50 to $21.

Full-time workers can expect to earn an average of $49 per hour, reflective of the improved compensation structure.

The contract also outlines specific wage adjustments for current employees over the five-year duration.

This year, workers will receive an additional $2.75 per hour, with an aggregate increase of $7.50 per hour by the end of the contract term.

These adjustments aim to address workers’ concerns and provide them with fair compensation for their contributions.

UPS drivers are expected to receive an average of $170,000 in pay and benefits at the conclusion of the five-year deal.

This figure signifies the company’s commitment to recognizing the vital role played by its drivers and ensuring their overall satisfaction.

However, the labor negotiations and associated costs have prompted UPS to revise its full-year revenue and margin forecasts.

The company anticipates some impact due to these factors, indicative of the significance of the agreement’s financial implications.

The International Brotherhood of Teamsters’ push for improved pay and working conditions aligns with a broader trend among labor organizations.

This trend is in response to the challenges posed by the Covid-19 pandemic and high inflation rates.

American Airlines pilots recently ratified a four-year deal featuring substantial compensation increases.

Delta Air Lines’ pilots secured a deal earlier this year, entailing raises of over 30%.

In a related development, Southwest Airlines is yet to reach an agreement with its pilots’ union, potentially leading to a strike if unresolved.

FedEx pilots rejected a tentative agreement for a new labor contract earlier this summer.

This highlights the varied outcomes of recent labor negotiations in the aviation industry.

The successful ratification of the UPS labor deal showcases the importance of effective negotiations and compromise.

With improved wages, work rules, and schedules, UPS aims to foster a more productive and harmonious work environment for its employees.

This is ultimately expected to benefit the company and its customers.

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cnbc.com
– UPS workers have ratified a five-year labor deal that includes wage increases and improvements to work rules and schedules.
The deal passed with 86.3% of votes, the highest contract vote in the history of Teamsters at UPS.
The International Brotherhood of Teamsters represents about 340,000 workers at UPS.
The deal was reached last month, narrowly avoiding a strike that could have had a significant impact on the U.S. economy.
– Part-time workers will now make a minimum of $21 an hour, up from $15.50.
– Full-time workers will average $49 an hour.
– Current workers will receive an additional $2.75 an hour this year and $7.50 an hour over the five-year contract.
– UPS drivers will average $170,000 in pay and benefits at the end of the five-year deal.
The company has lowered its full-year revenue and margin forecasts due to the impact of labor negotiations and the costs associated with the agreement.
The International Brotherhood of Teamsters is the latest labor organization to advocate for better pay and work conditions in the wake of the Covid-19 pandemic and high inflation.
– American Airlines pilots recently ratified a four-year deal with significant compensation increases.
– Delta Air Lines’ pilots also approved a deal with over 30% raises earlier this year.
– Southwest Airlines has not yet reached a deal with its pilots’ union, potentially leading to a strike.
– FedEx pilots rejected a tentative agreement for a new labor contract earlier this summer.

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