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More than 100 retirees gathered outside two UPS terminals Thursday to protest a company plan to cut their pensions by 20 percent.
Many are calling it the latest attack on the Central States Teamster Pension Plan.
There are 32,000 workers in Missouri alone who are vested in this pension plan. And protesters claim they all would feel the pain, arguing that if UPS can cut pension payments by 20 percent, other employers will follow.
FedEx Corp. (FDX) squared off against rival United Parcel Service (UPS) Thursday, announcing that it will skip additional charges for most residential deliveries this holiday season. The package delivery services are locked in a duel as Americans increasingly make their purchases at Amazon.com (AMZN) and other online retailers.
FedEx will, however, slap a fee for packages that are oversized or unauthorized, or require additional handling, the shipping giant said. It noted in a statement that the volume of oversized packages during the holidays has increased by approximately 240% over the past 10 years, and larger, heavier packages now account for 10% of all ground volumes.
Recycling Innovator and UPS Turn Trash to Treasure
Global customs and logistics solutions by UPS (NYSE: UPS) are powering TerraCycle’s mission to transform hard-to-recycle items like toothpaste tubes and snack bags into new products, diverting 40 million pounds of waste from landfills since 2012.
UPS’s unique customs expertise and technology solutions helped TerraCycle grow its global recycling programs and customer base, which means less waste. Over the last five years, for instance, TerraCycle has turned 3.5 billion pieces of waste into useful products like trash cans and park benches.
The collaboration reflects UPS’s commitment to solving environmental challenges and helping customers achieve a more sustainable global supply chain focused on waste reduction, reuse and recycling.
UPS (NYSE: UPS) celebrated the company’s 110-year anniversary today in Seattle’s Waterfall Garden Park. The anniversary, on August 28, will mark the founding of a messenger service company started by James Casey and Claude Ryan in a six-by-17-foot room beneath a tavern run by Ryan’s uncle at what is now 219 2nd Avenue South, in the heart of the city’s Pioneer Square area.
Outlook for 2H17
According to Richard Peretz, UPS’s CFO, “Second quarter results were in line with our expectations and we are pleased with the progress on our strategic initiatives. Looking at the second half of the year, our core business performance will continue to produce solid results.”
Peretz added, “UPS reaffirms 2017 adjusted diluted EPS guidance to be between $5.80 and $6.10, which includes about $400 million, or $0.30 per share of pre-tax currency headwinds.”