Pandemic Profits: UPS Cashes In

UPS made $1.8 billion in profits after taxes in the second quarter—thanks to record volume and excessive overtime by UPS Teamsters.

The company’s profits are twice what Wall Street projected. The announcement sent stock prices soaring. Meanwhile, UPS Teamsters are taking a pounding.

Package volume is up 23 percent compared to last year at this time. Across the country, UPS drivers are working huge amounts of forced overtime. Understaffing is epidemic.

UPS now employs 9,000 two-tier 22.4 drivers who have no 9.5 rights thanks to the concessionary contract that Hoffa and Denis Taylor imposed over a membership note vote.

Of the 38,000 workers UPS has hired over the last year, 28,000 are part-timers.

UPSers will get an 80 cent wage increase on August 1. Part-time starting pay will go up to $14.50. 

In the Media

CNBC:  UPS Shares Soar 11%

Barrons: UPS Stock is Jumping After the Company Delivered Smashing Earnings

Get Advice Join TDU Donate

Recent News

Changes to Number of IBT Regional Vice Presidents

There will be one fewer International VP elected from the Central Region next year, and one additional one in the Western Region, according to IBT figures released on October 8.

4000 Southern California Teamsters Give Strike Notice

Teamsters who work for the major retail Southern California grocery chains have given a 72-hour strike notice, as bargaining continues toward today’s deadline, and perhaps beyond it if no settlement is reached.  The 4000 warehouse workers and drivers work for Kroger (includes Ralphs and Food4Less) and Albertsons (includes Vons and Pavilions).

View More News Posts