UPS CEO Defends New Teamsters Contract, Calls it a 'Win-Win-Win' Despite Stock Drop

UPS CEO Carol Tome said the new Teamsters contract will cost less than the $30 billion claimed by the union. She called it a "barbell structure" heavier at the beginning.
The deal prevented a potentially disruptive strike during peak holiday shipping season. Full-time drivers will earn up to $170,000 under the 5-year contract.
Shares have fallen 14% since the deal was announced in July. Tome said UPS lost over 1 million packages per day leading up to the agreement.
Tome called it a "win-win-win" for the union, customers and UPS. She is now focused on the "Better and Bolder" strategy to modernize UPS.
Tome said AI can improve customer service by learning from interactions and sharing that knowledge across the company.

cnbc.com

Relevant topic timeline:

8/23/2023

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Posted 9/12/2023, 9:00:02 AM