A few months ago ... under a threat of a strike ... the Teamsters union "negotiated" a new contract for 340,000 UPS workers that gave them $2.75 more per hour in 2023, and $7.50 more in total by the end of the five-year contract. Starting hourly pay for part-time employees also got bumped up to $21. UPS says that by the end of the new contract, the average UPS full-time driver will make about $170,000 annually in pay and benefits.
Well ... fast forward to now and ...
UPS to slash 12,000 jobs in cost-saving move as workers ordered to be in office 5 days a week
http://nypost.com/2024/01/30/business/ups-to-slash-12000-jobs-as-workers-ordered-to-be-in-office-5-days-a-week/
United Parcel Service will slash 12,000 jobs and workers who survive the massive layoffs will be ordered to return to the office five days a week, the company said Tuesday.
The Atlanta-based firm announced the job cuts after reporting a 31.8% drop in quarterly profit, as e-commerce demand remained subdued and costs jumped from the company’s new contract with the Teamsters union.
UPS CEO Carol Tomé told analysts on an earnings call that the layoffs — which will impact about 14% of 85,000 full- and part-time managers — are expected to save the delivery giant $1 billion, according to Bloomberg.
A spokesperson for UPS told The Post its “plans to right-size its global staffing” will take effect “around the world over the next several months.” ...
Company costs skyrocket under the new labor contract ... it's only natural that something has to give. So, laid-off-UPS-worker ... how do you feel about that new union-negotiated contract, now, eh?
| 