UPS Stock Slumps on New Union Deal and Growth Concerns

UPS stock is slumping since new deal with Teamsters union
Higher labor costs driving down earnings estimates
Labor costs not sole reason for stock underperformance
Other issues weighing on UPS stock
UPS facing growth challenges amid e-commerce slowdown

barrons.com

Relevant topic timeline:

8/22/2023

UPS workers ratify 5-year contract, averting potentially crippling...

United Parcel Service (UPS) workers have ratified a new five-year contract, eliminating the possibility of a strike and ensuring timely Christmas deliveries while also improving pay and working conditions.

9/12/2023

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

UPS CEO Carol Tome said that the costs incurred by the company for the new Teamsters contract are less than the "$30 billion in new money" touted by the union, emphasizing that it is a cost-effective and fair deal.

9/14/2023

UPS Courts Customers Lost During Contract Talks With Deals and Bonuses

UPS is working aggressively to win back customers who switched to rivals like FedEx and the post office during the threat of a Teamsters strike, offering new services, deals, and signing bonuses in an effort to rebuild its business by the end of 2023.