A UPS driver pulls away after making a supply in Washington, D.C.
Andrew Harrer | Bloomberg | Getty Images
UPS‘ CEO stated drivers will average $170,000 in pay and benefits resembling well being care and pensions at the end of a five-year contract that the supply big struck with the Teamsters Union final month, averting a strike.
The tentative settlement covers some 340,000 staff at the bundle service. They are in the center of a ratification vote that started Thursday and ends Aug. 22.
“We count on our new labor contract to be ratified in 2 weeks,” UPS CEO Carol Tomé stated on an earnings name Tuesday.
The firm cut its full-year income and margin forecasts “primarily to mirror the quantity influence from labor negotiations and the prices related to the tentative settlement.”
The tentative deal would elevate part-time staff’ wages to at least $21 an hour. Their pay was a sticking level throughout negotiations. Full-time staff will average $49 an hour, and the settlement would end obligatory additional time on drivers’ days off, in keeping with a abstract posted by the Teamsters Union.
The deal is the newest massive wage enhance gained in labor negotiations. Workers from pilots to aerospace manufacturing staff have just lately pushed for and won higher pay.