UPS driver pay, benefits could average $170,000 annually with contract
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Full-time UPS drivers will earn a mean of $170,000 in annual pay and advantages on the finish of a five-year contract settlement, UPS CEO Carol Tomé stated during an earnings call Tuesday.
The wage ranges for full-time and part-time drivers have been among the many particulars to return out this week because the Teamsters union begins the method of ratifying the tentative settlement that emerged final month as a strike appeared imminent.
“While you have a look at complete compensation, by the top of the brand new contract, the common UPS full-time driver will make about $170,000 yearly in pay and advantages,” Tomé stated. “And for all part-time union workers which might be already working at UPS, by the top of this contract, they are going to be making not less than $25.75 per hour whereas receiving full well being care and pension advantages.”
The Teamsters approved a strike if a brand new contract settlement could not be reached. Voting on the proposed contract started final week and can proceed till August twenty second.
Working situations for employees are anticipated to enhance as UPS and Teamsters reached an agreement on air conditioning measures, “together with air con and each new U.S. package deal automotive beginning in January 2024.”
Staff may also get Martin Luther King Jr. Day as a paid vacation for the primary time in firm historical past due to the brand new tentative contract.
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How labor talks dampened UPS enterprise
Within the U.S., UPS saw a nearly 10% decrease in average daily package volume as prospects transferred their business to FedEx, the U.S. Postal Service and different regional carriers as they ready for what would have been the biggest single employer strike in U.S. historical past, had the Teamsters walked off the job.
“Most significantly, I wish to thank our prospects for placing their belief and their enterprise with us throughout our labor negotiations,” Tomé stated in the course of the firm’s second quarter earnings name Tuesday. “And for these prospects who diverted, we look ahead to bringing you again to our community.”
Tomé stated the corporate anticipated the labor negotiations with Teamsters, which began in April for a brand new nationwide contract, to be “late and loud.”
“Because the noise degree elevated all through the second quarter, we skilled extra quantity diversions than we anticipated,” Tomé stated.
This lower in each day quantity additionally contributed to a roughly 7% lower in income for the quarter.
Tomé stated in an effort to keep away from additional buyer loss, some 500 UPS executives met repeatedly with prospects in an effort to take care of their enterprise throughout negotiations, and if the corporate wasn’t capable of keep the enterprise, UPS would create a plan to win again prospects as soon as the tentative settlement is ratified, which could come on Aug. 22 when Teamster member voting concludes.
“We’re now laser-focused on executing our win-back initiatives and pulling by way of the greater than $7 billion of alternative in our gross sales pipeline,” Tomé stated.
Olivia Evans reviews for the Louisville Courier Journal and Doc Louallen reviews for USA TODAY.
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