UPS CEO Says Drivers Will Common $170,000 In Pay And Advantages At Finish Of 5-year Deal
A UPS driver pulls away after making a supply in Washington, D.C.
Andrew Harrer | Bloomberg | Getty Photos
UPS‘ CEO said drivers will average $170,000 in pay and benefits such as Health care and pensions at the end of a five-year contract that the delivery giant struck with the Teamsters Union last month, averting a strike.
The tentative agreement covers some 340,000 workers at the package carrier. They are in the middle of a ratification vote that began Thursday and ends Aug. 22.
“We expect our new labor contract to be ratified in 2 weeks,” UPS CEO Carol Tomé said on an earnings call Tuesday.
The company cut its full-year revenue and margin forecasts “primarily to reflect the volume impact from labor negotiations and the costs associated with the tentative agreement.”
The tentative deal would raise part-time workers’ wages to at the very least $21 an hour. Their pay was a sticking level throughout negotiations. Full-time staff will common $49 an hour, and the settlement would finish necessary time beyond regulation on drivers’ days off, in line with a abstract posted by the Teamsters Union.
The deal is the newest massive wage enhance gained in labor negotiations. Staff from pilots to aerospace manufacturing workers have lately pushed for and gained increased pay.
