While UPS Teamsters are working under a contract that imposed concessions like two-tier 22.4 drivers, UPS bosses are celebrating record profits. The company announced today it made $1.84 billion in profits during peak alone and $6.5 billion in profits after taxes in 2019.
UPS reported this profit haul in a conference call with investors and analysts this morning.
Revenue for the year rose to $20.57 billion from $19.85 billion in 2018.
Teamsters led the charge. Domestic revenue grew by more than 6%; international revenue fall by 1.7%.
UPS Supply Side and UPS Freight profits were up by 17 percent.
Amazon continues to be UPS’s largest customer.
For 2020, UPS and industry analysts say that profits after taxes will top $7 billion.
Unite with UPSers to Win Change
UPS and UPS Freight Teamsters are proud to work for a successful company. But there is no excuse for making contract givebacks to a company that’s making record profits.
UPS Teamsters are organizing for change.
We’re uniting to end the Two-Thirds rule that was used to impose the contract and to elect new International Union leaders who will mobilize the members to take on the company when our new contract is negotiated.
We can win but only if we work together.