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Staff at UPS (UPS) authorized a five-year contract price $30 billion in wage will increase and different advantages, ending contentious negotiations and the specter of a strike.
KEY TAKEAWAYS
- UPS staff ratified a labor deal price $30 billion in wage will increase and different advantages.
- The wage will increase will make full-time UPS supply drivers the best paid within the U.S.
- The deal ends the specter of a possible strike that might have disrupted deliveries and despatched transport prices hovering.
Ratified by 83.6% of votes, the best contract vote within the historical past of Teamsters at UPS, the deal eliminates a two-tier wage system for drivers, ends compelled additional time, and provides air-con to new fashions of the corporate’s vehicles along with elevating wages.
The contract will elevate pay for part-time staff to a minimum of $21 an hour from $15.50, whereas full-time staff will common $49 an hour. Current staff will get $2.75 extra per hour in 2023, with wages growing by $7.50 an hour over the size of the contract. The wage will increase will make full-time UPS supply drivers the best paid within the U.S.
The deal comes after labor negotiations and a possible strike threatened to disrupt deliveries and ship transport prices hovering. Each events got here to a preliminary settlement final month, which staff began voting on in early August.
The logistics big is not the one one which’s confronted union stress for higher wages this 12 months. American Airways, United Airways, and Delta Air Strains additionally reached offers earlier this 12 months that included will increase in compensation. Southwest Airways might face a possible strike from its pilots’ union, whereas FedEx can also be negotiating a brand new labor contract.
UPS shares edged up 0.5% in pre-market buying and selling on Wednesday morning following the information, however remained decrease for the 12 months to date.
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