UPS Inc. and the Teamsters union will return to the bargaining table next week after what will be a roughly three-week hiatus in an effort to hammer out a new five-year term contract just days before the old one expires.
In a statement, UPS (NYSE: UPS) said that “we are pleased to be back at the negotiating table next week to resolve the few remaining open issues. We are prepared to increase our industry-leading pay and benefits, but need to work quickly to finalize a fair deal that provides certainty for our customers, our employees and businesses across the country.”
In its own statement, the Teamsters said UPS had agreed to resume talks after buckling to pressure from the union.
Talks stalled July 5 over the issue of part-time wage increases.
The Teamsters have said they will strike Aug. 1 if a contract isn’t accepted by the union’s negotiating committee. Should union negotiators agree to a handshake deal, work is expected to continue until the 340,000 rank and file review and ratify the agreement. That process is likely to take about three weeks, the union has said.
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Bill
Wow you are unreasonable ups
Made over 8 billion last year. It’s the employee who
Made that money for the company and the employees are entitled to some of it
Larry Grizzle
It should be both UPS and Teamsters responsibility to negotiate a contract that’s fair for the employees and enhances the future success of the company.
Both should be concerned that most of UPS’s competition is non union or the U.S. Postal Service.
The Teamster union has been threatening to strike UPS over the past year, long before negotiations began. It appears they think taking down a successful company like UPS will help in their organizing efforts with other companies. How’s that working FedEx and Amazon.
How many large successful trucking companies that were the Teamster’s bread and butter over the past 75 plus years are still thriving or in business. How is Yellow Roadway doing?
UPS has been in business since 1907 and has always shared its success with its employees and just as importantly put their profits towards their future success.
I realize that billions of dollars, to the average person, is an unfathomable number, and doesn’t seem quite fair when comparing it to a dollar per hour pay increase. UPS’ers should break UPS profits down to % profit per dollar. If UPS could make 10 cents on the dollar it would be a good year. Then we should look at what the company does with that 10 cents. When you look you’ll see that the company is preserving its future. Sure the shareholders get to share in the profits as well and all employees can and are shareholders.
Everyone should realize that the company has the responsibility of not negotiating a contract that can’t be afforded during business downturns.
Has anyone ever seen the Teamsters negotiating a contract that gives back to a company that has negotiated a contract that it can’t afford.
My advice to the Teamsters and UPS employees is” Don’t negotiate away your future”.