After months of negotiations, UPS and the union representing more than 340,000 employees came to an agreement Tuesday, avoiding a strike that would have been detrimental to the economy both in Kentucky and throughout the nation.
The deal inked between the Teamsters and UPS grants significant pay increases to all UPS employees, both part-time and full-time. The handshake agreement still needs approval by rank-and-file union members at UPS to take effect.
“Together we reached a win-win-win agreement on the issues that are important to Teamsters leadership, our employees and to UPS and our customers,” said UPS CEO Carol Tomé in a statement Tuesday. “This agreement continues to reward UPS’s full- and part-time employees with industry-leading pay and benefits while retaining the flexibility we need to stay competitive, serve our customers and keep our business strong.”
Ashli Watts, President and CEO of the Kentucky Chamber of Commerce, recently penned an op-ed in conjunction with Commerce Lexington urging both sides to reach a deal to avoid a significant blow to the economy.
“We applaud the efforts of both UPS and the Teamsters to reach this historic deal that will keep Kentucky’s economy strong,” Watts said. “From management positions to drivers, pilots, and mechanics, all roles are critical to the success of the global logistics economy that many businesses rely on every day.”
Stay tuned to the Bottom Line for further updates.