July 26, 2011: UPS made $1.06 Billion in profits after taxes from April to June this year. That’s an increase of 26 percent (or more than $150 million) over the $845 million in profits the company made during the same period last year.
Overall, company revenue increased by 8.1 percent to $13.2 billion for the quarter. UPS released these figures in a quarterly earnings announcement.
Profits from the company’s package division were up by 29 percent. At UPS Freight, profits and revenue are also up, with operating profit up by 41 percent.
UPS management is projecting record profits for the year. Things are not going nearly as well for the UPS Teamsters who make those profits possible.
Teamsters across North America report record production harassment and excessive overtime. Routes are being cut and combined, 9.5 violations are soaring, and full-time 22.3 jobs continue to be eliminated.
The recent Teamster Convention had a virtual Brownout on UPS problems. No action plans of any kind were put forward to deal with the contract violations at UPS.
Click here to read the minutes of the UPS program from the Teamster Convention about UPS.
The National Grievance Panel scheduled for June was put off until September 12 in San Diego. The decisions from the March national grievance panel have yet to be released.