UPS Quarterly Profits Nearly Double

July 22, 2010: Profits are skyrocketing at UPS while working conditions continue to bottom out.

UPS executives announced that Brown hauled in more than $854 million in the second quarter. Brown’s profits increased by 90 percent compared to the second quarter last year. That’s $400 million more in profits.

In all, UPS made nearly $1.4 billion in profits after taxes in the first six months of this year alone. Package volume continues to increase. UPS Freight revenue is up by 10 percent.

Chief Financial Officer Kuert Kuehn told analysts that he expects profits to increase even more over the rest of the year despite the slow economic recovery.

Profits are up and going higher. Same with volume. But working conditions and contract enforcement are moving backwards.

Production harassment and excessive overtime/9.5 violations are skyrocketing and UPS has eliminated thousands of full-time 22.3 positions required by the contract.

Teamster Package Car Director Ken Hall admitted the union was giving the company a free pass to eliminate full-time 22.3 jobs because of the economy. That never made any sense and makes even less now that the company is poised to make more than $4 billion in profits this year.

UPS has delivered good profit and revenue news. It’s time for the Hoffa administration to deliver some good news for UPS Teamsters.

Click here to read a press report on UPS’s profits.

Get Advice Join TDU Donate

Recent News

Teamsters Hit Sysco with Coordinated Strike Action

Sysco operations across Indiana and Kentucky have ground to a halt after Teamster members walked out last night in Unfair Labor Practice strikes. The strike is the latest example of coordinated Teamster action at Sysco that is increasing members’ bargaining leverage.

Watch the Video! UPS Teamsters: Get Ready for April Kickoff Actions

Check out the recording of our UPS Teamsters United webinar, Get Ready for April Kickoff Actions! Contract negotiations begin on April 17, and our union is kicking them off with rallies, parking lot meetings, and contract actions across the country. More than 1,300 UPS Teamsters joined our call to hear from guest speaker Sean O'Brien and make plans to hold kickoff actions in April. Get involved here.

View More News Posts