UPS CEO says drivers will average $170,000 in pay and benefits at end of 5-year deal

UPS' CEO said drivers volition mean $170,000 successful wage and benefits specified arsenic wellness attraction and pensions astatine the extremity of a five-year contract that the transportation elephantine struck with the Teamsters Union past month, averting a strike.

The tentative statement covers immoderate 340,000 workers astatine the bundle carrier. They are successful the mediate of a ratification ballot that began Thursday and ends Aug. 22.

"We expect our caller labour declaration to beryllium ratified successful 2 weeks," UPS CEO Carol Tomé said connected an net telephone Tuesday.

The institution cut its full-year gross and borderline forecasts "primarily to bespeak the measurement interaction from labour negotiations and the costs associated with the tentative agreement."

The tentative woody would rise part-time workers' wages to astatine slightest $21 an hour. Their wage was a sticking constituent during negotiations. Full-time workers volition mean $49 an hour, and the statement would extremity mandatory overtime connected drivers' days off, according to a summary posted by the Teamsters Union.

The woody is the latest ample wage summation won successful labour negotiations. Workers from pilots to aerospace manufacturing employees person precocious pushed for and won higher pay.