August 24, 2012: We've delivered $4 billion in profits. UPS has taken care of its CEO Scott Davis. It's time to take make UPS deliver for us in the contract.
Headed into contract negotiations, UPS continues to make big profits, especially in the package and freight divisions where Teamster members work. U.S. domestic package business is responsible for 63 percent of the company's profits. Those profits are on the rise and will easily top $4 billion this year.
The company hauled in $2.1 billion in profits in the first six months of the year alone.
As we move toward contract negotiations, management will talk gloom and doom.
We all know the economy is weak. But UPS's profits are up.
CEO Scott Davis
Makes $13.05 million
His pension and retirement package was hiked by $1.51 million last year
His last pay increase was $2.3 million—a 21 percent increase.
Starting pay: $8.50/hour.
The last time starting pay for part-timers was increased was 1997—15 years ago! If part-time pay kept up with inflation since 1997, starting pay would be $12.15 an hour today.
Package Car Driver
Makes around $31 an hour.
Package drivers and other full-time UPSers in the UPS-IBT Pension Plan get $2,500 for 25-and-Out and $3,000 for 30-and-Out. Pensions vary by fund, but this is the biggest group (48,000 full-timers) and they get the lowest pensions in the country.
UPS Teamsters speak out on contract proposals. Click here to see what they have to say, and to see the Contract Negotiations Timeline.