ReportWire

Tag: United Parcel Service Inc. Cl B

  • UPS workers vote to approve ‘historic’ five-year contract

    UPS workers vote to approve ‘historic’ five-year contract

    [ad_1]

    UPS employees approved a new five-year union contract with the delivery giant Tuesday, about a month after reaching a tentative deal that averted a strike of 340,000 United Parcel Services workers.

    The Teamsters said 86.3% of members voted for the “historic” deal, saying it was “the highest vote for a contract in the history of the Teamsters at UPS.”
    UPS,
    -0.97%

    “Teamsters have set a new standard and raised the bar for pay, benefits and working conditions in the package-delivery industry,” Teamsters General President Sean O’Brien said in a statement. “This is the template for how workers should be paid and protected nationwide, and nonunion companies like Amazon
    AMZN,
    -0.32%
    better pay attention.”

    Among the parts of the contract the union highlighted were $2.75-an-hour raises for existing full- and part-time union members this year, and a total of a $7.50-an-hour raise over five years. All existing part-timers will earn at least $21 an hour starting immediately per the contract, according to the Teamsters.

    The union also noted that the pay increases for full-timers will keep UPS Teamsters as the highest-paid delivery drivers in the country, with the average top rate rising to $49 an hour. In addition, the Teamsters said the new contract ends what it called the two-tier wage system at the company, with all UPS Teamster drivers currently classified as “22.4s” — or hybrid drivers and warehouse workers who were paid less than full-time drivers — to be reclassified immediately as RPCDs, or regular package car drivers.

    A UPS spokesperson sent the following statement from the company: “Our Teamsters-represented employees have voted to overwhelmingly ratify a new five-year National Master Agreement that covers more than 300,000 full- and part-time UPS employees in the U.S.”

    Amazon did not immediately respond to a request for comment.

    One local supplemental agreement that affects 174 workers in Florida will be renegotiated, the union said. The national master agreement will go into effect as soon as that supplement, which is one of 44 local supplements, has been renegotiated and ratified, the union said.

    See: UPS blames ‘late and loud’ Teamsters talks for revenue miss, outlook cut

    Also: Actors, writers, hotel housekeepers and grad-student workers are all striking for the same reason

    [ad_2]

    Source link

  • Amazon relaunches a delivery service it put on hold during the pandemic

    Amazon relaunches a delivery service it put on hold during the pandemic

    [ad_1]

    Amazon.com Inc.
    AMZN,
    -0.57%
    has relaunched its Amazon Shipping delivery service after a pandemic-era pause, the company confirmed on Friday. The news, reported on earlier in the day by the Wall Street Journal, marks the return of a segment of the online retailer that went head-to-head with the likes of FedEx Corp.
    FDX,
    -0.85%
    and United Parcel Service Inc.
    UPS,
    +0.29%
    The service, which processes packages sold via Amazon and other outlets, is now running in most of the U.S., the Journal said. The shipping segment was put on halt after being overwhelmed by the boom in online demand during the pandemic, the Journal said. “We’re always working to develop new, innovative ways to support Amazon’s selling partners, and Amazon Shipping is another option for shipping packages to customers quickly and cost-effectively,” Amazon spokesperson Olivia Connors said in a statement. “We’ve been providing this service for a while with positive feedback so we’re now making it available to more selling partners.” Shares of Amazon were 0.1% lower after hours on Friday.

    [ad_2]

    Source link

  • UPS, Teamsters reach tentative deal, averting threat of a strike

    UPS, Teamsters reach tentative deal, averting threat of a strike

    [ad_1]

    Package-delivery giant United Parcel Service Inc. and the Teamsters union on Tuesday said they had reached a tentative five-year labor agreement that would boost jobs, pay and other protections, after increasingly vocal threats of a strike reignited concerns about the impact to the economy and the nation’s shipping ecosystem.

    Teamster locals in the U.S. and Puerto Rico will now meet on July 31 to review and recommend the tentative deal, which will cover 340,000 workers, the Teamsters said in a release. Rank-and-file members will vote on the deal starting on Aug. 3, with the voting process running until Aug. 22.

    Under the deal’s terms, current full and part-time UPS
    UPS,
    -1.32%
    workers in the Teamsters union will get $2.75 more per hour this year, and $7.50 more over the course of the contract, according to a release.

    Current part-timers would have their pay raised to at least $21 per hour immediately, with a 48% average total wage hike over the next five years. New part-time hires would start at $21 per hour and advance to $23 per hour, the Teamsters said.

    Full-time UPS delivery drivers in the Teamsters union would see their average top pay rate rise to $49 per hour.

    The deal also ends a two-tier wage system at UPS and makes Martin Luther King Day a holiday for union members. UPS will also outfit newer delivery vehicles with air conditioning and cargo ventilation. The deal also ends forced overtime on union members’ days off.

    Shares of UPS were up 0.8% in afternoon trade. Shares of rival FedEx Corp.
    FDX,
    +0.34%
    were up 0.5%.

    Talks between UPS and the union began in April. Some Wall Street analysts expected both sides to reach a deal, despite a more hardline stance from Teamster leadership.

    “Rank-and-file UPS Teamsters sacrificed everything to get this country through a pandemic and enabled UPS to reap record-setting profits,” Teamsters General President Sean O’Brien said in a statement.

    “Teamster labor moves America,” he continued. “The union went into this fight committed to winning for our members. We demanded the best contract in the history of UPS, and we got it. UPS has put $30 billion in new money on the table as a direct result of these negotiations.”

    UPS Chief Executive Carol Tome, in a separate statement, also praised the deal.

    “This agreement continues to reward UPS’s full- and part-time employees with industry-leading pay and benefits while retaining the flexibility we need to stay competitive, serve our customers and keep our business strong,” she said.

    [ad_2]

    Source link

  • UPS’s stock snaps win streak after Teamsters say talks collapse due to ‘unacceptable’ contract offer

    UPS’s stock snaps win streak after Teamsters say talks collapse due to ‘unacceptable’ contract offer

    [ad_1]

    Shares of United Parcel Service Inc. dropped for the first time in seven sessions Wednesday, after the union representing more than 340,000 employees said the delivery giant “walked away” from the bargaining table after its labor contract offer was unanimously rejected.

    The International Brotherhood of Teamsters said, following “marathon” negotiations, that UPS UPS refused to give the union a “last, best and final offer,” as the company said it had nothing more to give.

    “This…

    [ad_2]

    Source link