UPS, Teamsters Reach Agreement on New Five-Year Contracts

UPS

today announced that it has reached a tentative agreement with the International Brotherhood of Teamsters (Teamsters) on two, new five-year contracts in the small package and freight business units. The tentative contracts, which must be presented to the UPS Teamster-represented employees for ratification, were concluded well in advance of the July 31, 2013, expiration of the current contracts. “These agreements are a ‘win-win-win' for our people, customers and shareholders,” said Scott Davis, UPS chairman and CEO. “The fact that we have reached agreements well before our current contracts expire is a testament to the skills and determination of all those involved in these negotiations.” The new