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UPS to take pre-tax charge on new labor contract
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<blockquote data-quote="Catatonic" data-source="post: 1314070" data-attributes="member: 7966"><p>Major upfront hit but after 5 or 6 years, UPS should break-even on the deal.</p><p>Meanwhile, the Unions and their healthcare plans are boosted up another few years.</p><p><em>Under the plan, UPS will transfer a total of $2.27 billion to the three multi-employer health-care plans to which its employees are moving. The shift will also allow it to remove about $1.2 billion in retiree health-care liability from its balance sheet.</em></p></blockquote><p></p>
[QUOTE="Catatonic, post: 1314070, member: 7966"] Major upfront hit but after 5 or 6 years, UPS should break-even on the deal. Meanwhile, the Unions and their healthcare plans are boosted up another few years. [I]Under the plan, UPS will transfer a total of $2.27 billion to the three multi-employer health-care plans to which its employees are moving. The shift will also allow it to remove about $1.2 billion in retiree health-care liability from its balance sheet.[/I] [/QUOTE]
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UPS to take pre-tax charge on new labor contract
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