UPS Cashes In On Concessionary Contract

UPS executives announced that the company tripled its peak-season profits and hauled in an astonishing $4.8 billion in profits after taxes in 2015. The company’s freight sector, including UPS Freight, reported higher revenue and profits too.

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On a conference call with shareholders and industry analysts, Brown execs promised this is just the beginning. They predicted the company will make $5.1 to $5.3 billion in 2016.

Contract concessions are paying off for management, but for working Teamsters it’s a very different picture.

  • Tens of thousands of Teamsters face healthcare cuts under the new Teamcare health plan. In the Southwest, members are diverting over $1,000 a year in pension contributions to pay for their healthcare. (So much for Ken Hall’s promise that "members would not pay $90, $9 or $9 cents" for their healthcare.)
  • Close to 9,000 Teamsters who retired from UPS before 2008 may see their monthly pensions cut in half under the pension cut plan proposed by Central States.
  • Starting pay for UPS part-timers is frozen at just $10 an hour—well below the minimum wage of $15 that unions and the Fight for $15 movement are fighting for, and winning, in some areas.

UPS is a story of run-away corporate greed and International Union leadership that’s too weak to stand up for the members. The only antidote is for working Teamsters to organize for change. That’s what TDU is all about. Contact us and get involved today.

Click here to read the profits report from the UPS pressroom.

Click here to read press reports on UPS profits.


Showing 7 reactions

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  • followed this page 2016-10-31 15:09:19 -0400
  • commented 2016-02-03 19:56:34 -0500
    Dan , my heart goes out to you ! This company and the international are in the same bed ! Unfortunately everyone voted for haffa because of his dad’s name. Yet he’s not half the man his father was ! I too am looking to retire in 2018 , I can’t imagine my pention being cut ,I’m depending on all of it to retire . I’m in local 804 nyc and I’m supposed to receive 4000 monthly ! What will I do if the cut that as a retiree I don’t know ! I’ll prey God puts angles in place so that you do not lose anything you worked so hard for ! Stay in touch and God bless
  • commented 2016-02-03 15:33:26 -0500
    Unfortunately I’m one of the retirees that UPS has thrown under the bus. Despite giving UPS over 30 years of devoted service I now face tough choices on how to make ends meet because my pension is being cut in half. Pure greed and disregard for the people that made UPS the money maker that it is today will result in my either choosing food on the table or buying medicine. If UPS had one ounce of decency they would divert a small portion of their profits to take care of their own retirees but again all they care about is profit and could give a damn about their people. Current employees and future customers should take this kind of behavior into consideration before giving the 110 percent UPS wants from their employees and new customers sending business their way.
  • commented 2016-02-03 15:08:57 -0500
    There now on the 8 and skate mode and they want everything done the same ! Inside employees that don’t get any ovetime , drivers that run there Asses off to make unsustainable spors and an a international union with no balls !
  • commented 2016-02-02 21:18:46 -0500
    A company that has been thought of one of the best places to work. Now Pure Corporate American GREED has taken over! TAKE CARE OF THE PEOPLE THAT MAKE YOU YOUR BILLIONS!
  • commented 2016-02-02 19:02:31 -0500
    While I do expect the company that I retired from to continue to make a profit, I will agree that some of that wealth be spread around to it’s employees. We were among the highest paid employees in the industry at one time, but with the type of profits UPS is seeing in recent years, it stands to reason that pay and benefits should be commensurate.
    I hope when the next contract negotiations come around, the Teamsters get what we deserve and UPS realizes the extraordinary work force they have driving these profits.
  • commented 2016-02-02 18:39:14 -0500
    Don’t forget that retirees in all areas are paying higher monthly premiums for healthcare and higher deductibles and higher copays for prescription. For those impacted by potential pension reductions – double or triple whammy.

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