UPS strike looms as Teamsters talks remain stalled
UPS is the largest employer of Teamsters in the US
UPS and stocks
UPS and the Teamsters remain at odds over part-time worker pay and have not returned to the bargaining table since the union rejected the delivery company’s initial contract offer Wednesday.
The Teamsters National Negotiating Committee said UPS provided an "unacceptable" offer in contract talks for about 340,000 employees while also alleging the delivery giant walked away from the talks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UPS | UNITED PARCEL SERVICE INC. | 133.21 | -2.00 | -1.48% |
Since then, the committee has posted a series of tweets accusing UPS of paying part-time workers near-minimum wage in many parts of the country, saying these employees are at risk of being exploited and cast aside.
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The existing contract will expire July 31, and UPS workers have already authorized the first strike since 1997 should the talks break down.
The Teamsters thanked former Speaker of the House Nancy Pelosi after the democratic lawmaker from California tweeted, "Unions are the backbone of our middle class and America's working families.
U.S. Speaker of the House Nancy Pelosi, D-Calif., holds her weekly press conference at the U.S. Capitol July 21, 2022, in Washington, D.C. (Nathan Howard/Getty Images / Getty Images)
"I proudly stand with the 340,000 @Teamsters at UPS who are exercising their right to organize."
While the union pointed the finger at UPS for walking away from Wednesday’s negotiations, the company said in a statement on Wednesday, "We have not walked away, and the union has a responsibility to remain at the table.
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"The Teamsters have stopped negotiating despite UPS’ historic offer that builds on our industry-leading pay. We have nearly a month left to negotiate," the company continued. "Refusing to negotiate, especially when the finish line is in sight, creates significant unease among employees and customers and threatens to disrupt the U.S. economy.
"The Teamsters should return to the table to finalize this deal."
A work stoppage lasted 15 days in 1997, costing UPS $850 million as supply chains were disrupted.
Yellow Corporation CEO Darren Hawkins stresses the importance of union negotiations to avoid economic disruption.
"This multibillion-dollar corporation has plenty to give American workers, they just don’t want to," Teamsters General President Sean M. O’Brien said.
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"UPS had a choice to make, and they have clearly chosen to go down the wrong road."
Teamsters President Sean O'Brien speaking at a rally with UPS workers before their national contract negotiations in Charlestown, Mass., April 2. (Matthew J. Lee/The Boston Globe via Getty Images / Getty Images)
Last week, the Teamsters also said UPS didn’t adequately reward its workers who risked their lives to make deliveries during the COVID-19 pandemic, pumping big profits into UPS.