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The Latest UPS Headlines
UPS Sees $1.05 Billion Charge With Teamster Contract
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<blockquote data-quote="cheryl" data-source="post: 1314129" data-attributes="member: 1"><p><a href="http://www.bloomberg.com/news/2014-04-24/ups-sees-1-05-billion-charge-with-teamster-contract.html" target="_blank"><strong>UPS Sees $1.05 Billion Charge With Teamster Contract - Bloomberg</strong></a></p><p></p><p>United Parcel Service Inc. (UPS) will record a pretax cost of about $1.05 billion this quarter for changes to union workers’ health benefits under a five-year contract approved by the International Brotherhood of Teamsters.</p><p></p><p>The world’s largest package-delivery company will make a pretax cash payment of $2.27 billion to multiemployer funds that will administer active and post-retirement medical benefits for Teamster-represented employees, according to a filing today. The contract covers 253,000 workers. </p><p></p><p>Employees will see annual raises averaging 2.4 percent, and UPS is setting a $10-an-hour wage for new part-time workers. UPS last changed its starting wage in the 1990s.</p></blockquote><p></p>
[QUOTE="cheryl, post: 1314129, member: 1"] [URL='http://www.bloomberg.com/news/2014-04-24/ups-sees-1-05-billion-charge-with-teamster-contract.html'][B]UPS Sees $1.05 Billion Charge With Teamster Contract - Bloomberg[/B][/URL] United Parcel Service Inc. (UPS) will record a pretax cost of about $1.05 billion this quarter for changes to union workers’ health benefits under a five-year contract approved by the International Brotherhood of Teamsters. The world’s largest package-delivery company will make a pretax cash payment of $2.27 billion to multiemployer funds that will administer active and post-retirement medical benefits for Teamster-represented employees, according to a filing today. The contract covers 253,000 workers. Employees will see annual raises averaging 2.4 percent, and UPS is setting a $10-an-hour wage for new part-time workers. UPS last changed its starting wage in the 1990s. [/QUOTE]
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UPS Sees $1.05 Billion Charge With Teamster Contract
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