UPS Workers OK Master Contract, Reject Freight Employees' Deal

UPS (NYSE: UPS  ) employees belonging to the International Brotherhood of Teamsters union have voted to approve a new five-year national master contract with the company ahead of the July 31 deadline, UPS announced today, however, an agreement covering freight employees needs additional negotiation.

The master contract was headed toward approval with an approval rate of more than 53%, however, a proposed deal with UPS' freight employees was overwhelming rejected by a vote of 4,244 to 1,897, according to data supplied by the Teamsters union. The Associated Press is reporting that more than a dozen local supplemental agreements and riders were losing, according to a preliminary count on the union website. In a written statement, the Teamsters said those apparent defeats were partly due to a provision that would move 140,000 workers from a UPS-sponsored health insurance plan into one that would be jointly administered by the company and the union.

In response to the freight workers' rejecting a new agreement, UPS Senior Vice President of Human Resources and Labor Relations John McDevitt said, "It will be business as usual while UPS and the IBT resolve remaining issues and Teamster represented employees ratify new agreements."

The recently ratified national master contract covers 235,000 full- and part-time UPS employees throughout the U.S., and will remain in effect until July 31, 2018.

-- Material from The Associated Press was used in this report.

Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2511156, ~/Articles/ArticleHandler.aspx, 9/28/2016 6:27:11 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 9 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:01 PM
UPS $110.01 Up +1.17 +1.07%
United Parcel Serv… CAPS Rating: *****