UPS CEO David Abney has tripled his pay to $11.3 million under the concessionary contract negotiated by Hoffa-Hall.
David Abney is on a roll. The UPS Chief Executive more than doubled his pay to $8.4 million in 2014, the same year that Hoffa-Hall finalized their concessionary contract with UPS. Last year, the CEO hiked his pay yet again to $11.3 million—a 35 percent jump.
Abney’s base pay increased by 51 percent to $1 million. The other $10.3 million comes in stock awards.
In all, UPS’s CEO has more than tripled his pay under the first two years of the new contract.
For UPS Teamsters, it's a different story: healthcare cuts for thousands forced into Teamcare, pension cuts in New York State and for 8,737 UPS retirees in the Midwest and South, wage diversions in New Jersey, starting pay for part-timers frozen at $10 an hour and a pension freeze for UPSers in Southern California and the Southwest.
The contract is paying off for some at UPS; it's just not UPS Teamsters.