UPS Freight being sold

[dogs.bite.me]

UPS to sell freight business to TFI for $800 million as part of 'better not bigger' plan — MarketWatch

Shares of United Parcel Service Inc. announced Monday an agreement to sell its UPS Freight (UPSF) business for $800 million to Canada-based trucking company TFI International Inc. . UPS expects to record a $500 million impairment charge on its 2020 results as a result of the deal, which is...

apple.news

what’s the unions position on this?

 

[burrheadd]

UPS to sell freight business to TFI for $800 million as part of 'better not bigger' plan — MarketWatch

Shares of United Parcel Service Inc. announced Monday an agreement to sell its UPS Freight (UPSF) business for $800 million to Canada-based trucking company TFI International Inc. . UPS expects to record a $500 million impairment charge on its 2020 results as a result of the deal, which is...

apple.news

what’s the unions position on this?

Why would the union have a position?

 

[Trailer monkey]

Why would the union have a position?

Section 3. Transfer of Company Title or Interest In the event the Company is sold or any part of its operations covered by this Agreement is transferred, the Company shall give notice to the TNUPSFNC to the extent required by applicable law. The Company shall give notice of the existence of this Agreement to any entity involved in the sale or other transaction by which the operation covered by this, or any part thereof, may be transferred. Such notice shall be in writing, with a copy to the TNUPSFNC, at the time of the purchase and sale negotiation are made known to the public or the Company executes a contract or transaction as herein described, whichever first occurs. The TNUPSFNC shall also be advised of the exact nature of the transaction, not including financial details.

 

[burrheadd]

Section 3. Transfer of Company Title or Interest In the event the Company is sold or any part of its operations covered by this Agreement is transferred, the Company shall give notice to the TNUPSFNC to the extent required by applicable law. The Company shall give notice of the existence of this Agreement to any entity involved in the sale or other transaction by which the operation covered by this, or any part thereof, may be transferred. Such notice shall be in writing, with a copy to the TNUPSFNC, at the time of the purchase and sale negotiation are made known to the public or the Company executes a contract or transaction as herein described, whichever first occurs. The TNUPSFNC shall also be advised of the exact nature of the transaction, not including financial details.

So ups needs to send them a letter
OK

 

[BigUnionGuy]

UPS to sell freight business to TFI for $800 million as part of 'better not bigger' plan — MarketWatch

Shares of United Parcel Service Inc. announced Monday an agreement to sell its UPS Freight (UPSF) business for $800 million to Canada-based trucking company TFI International Inc. . UPS expects to record a $500 million impairment charge on its 2020 results as a result of the deal, which is...

apple.news

what’s the unions position on this?

You might wan to give it a minute, before the IBT responds. The public announcement just made the news this morning.

Section 3. Transfer of Company Title or Interest In the event the Company is sold or any part of its operations covered by this Agreement is transferred, the Company shall give notice to the TNUPSFNC to the extent required by applicable law. The Company shall give notice of the existence of this Agreement to any entity involved in the sale or other transaction by which the operation covered by this, or any part thereof, may be transferred. Such notice shall be in writing, with a copy to the TNUPSFNC, at the time of the purchase and sale negotiation are made known to the public or the Company executes a contract or transaction as herein described, whichever first occurs. The TNUPSFNC shall also be advised of the exact nature of the transaction, not including financial details.

Yep.

https://teamster.org/wp-content/uploads/2018/12/upsf18freightnationalmaster.pdf

 

[DELACROIX]

Section 3. Transfer of Company Title or Interest In the event the Company is sold or any part of its operations covered by this Agreement is transferred, the Company shall give notice to the TNUPSFNC to the extent required by applicable law. The Company shall give notice of the existence of this Agreement to any entity involved in the sale or other transaction by which the operation covered by this, or any part thereof, may be transferred. Such notice shall be in writing, with a copy to the TNUPSFNC, at the time of the purchase and sale negotiation are made known to the public or the Company executes a contract or transaction as herein described, whichever first occurs. The TNUPSFNC shall also be advised of the exact nature of the transaction, not including financial details.

Sure looks like UPS is getting ready to shed their pension liabilities in 2023...

I would expect a possible weight increase (150+) in the package division...

 

[BigUnionGuy]

Sure looks like UPS is getting ready to shed their pension liabilities in 2023...

For management.

would expect a possible weight increase (150+) in the package division...

As soon as they go to 2-man teams, and "powered" equipment.


Let's see IE come up with time allowances.... for that.

 

[Indecisi0n]

Do we have to wave to them anymore ?

 

[Brownsocks]

Do we have to wave to them anymore ?

I stopped that a long time ago when most refused to wave back. I think they are jealous of our compensation package.

 

[Brownslave688]

I would expect a possible weight increase (150+) in the package division...

Hell people send whatever now and most don’t have the balls to stop the progress of oversized or overweight packages.

 

[WeAreAllGoingToMakeIt]

This is big news, believe it or not. UPS is shedding weight. It was sold for $800 million, so not exactly pocket change. This leads me to believe that UPS was loosing money on UPS freight, so it had to let it go.

I predict that in the near future, UPS will negotiate with the Union to try and decrease the number of Feeder jobs too. They will try to buy an Automated fleet, aka the Driver-less semi trucks.

 

[Dave426]

Not really Big News at all.. UPS Freight has been losing money for years, I'm surprised they did not sell it years ago.. UPS Freight will continue to be under Teamster Contract until 2023..

 

[Staydryitsraining]

Yall are missing the bigger picture. Automated semis are coming. You think ups wanted to be in the news for killing jobs? Also the near shut down of freight last year, no surprise ups cut it.

 

[Theoneandonly24]

Will they still be called ups freight? Will they still be unionized after the contract ends?

 

[DELACROIX]

Will they still be called ups freight? Will they still be unionized after the contract ends?

I believe they will still be called UPS Freight till 2023, the transaction will take place in a couple of months. Whether they will be members of the teamsters Union is open for negotiations after 2023...

 

[DELACROIX]

For management.



As soon as they go to 2-man teams, and "powered" equipment.


Let's see IE come up with time allowances.... for that.

For Management and everybody else under a UPS controlled pension plan..All Part timers under the central and southern conferences..

UPS wants out of defined pensions business and will replace them with individual 401k’s, the timetable is set already...

They will sweeten the deal by increasing the vesting benefit for every full timer who had years under the UPS Pension Plan..like 50 dollars per service year without the six percent penalty.

Just how many of these newer part timers are hanging around over 5 years anyway..

 

[542thruNthru]

I believe they will still be called UPS Freight till 2023, the transaction will take place in a couple of months. Whether they will be members of the teamsters Union is open for negotiations after 2023...

They will still have to bargain in good faith. If they want to get rid of the union the workers could go on strike.

 

[DELACROIX]

They will still have to bargain in good faith. If they want to get rid of the union the workers could go on strike.

Do you remember the last two UPS freight contracts..they will not go on strike...

They could still be part of the Teamsters, depends on what their new bosses wants.

 

[542thruNthru]

Do you remember the last two UPS freight contracts..they will not go on strike...

They could still be part of the Teamsters, depends on what their new bosses wants.

And how will the new bosses get rid of the teamster union?

 

[DELACROIX]

Their contract expires in 2023...with UPS..