UPS, Teamsters Reach 5-Year Labor Deal for 340K Workers Worth Under $30B
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UPS and Teamsters reach new 5-year labor deal expected to cost under $30 billion
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Deal covers 340,000 UPS workers in the U.S. and expires July 31, 2028
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UPS CEO says contract costs will have 3.3% compound annual growth rate
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46% of wage and benefit costs to be booked this year
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UPS previously cut 2022 targets, citing higher labor costs and lost business during negotiations