UPS announced third quarter profits of $2 billion. The company slashed 34,000 operational jobs and Wall Street cheered. UPS shares rose 8%. Make no mistake—this company and its investors don’t give a damn about the Teamsters who create their wealth.
“UPS Jumps After Sweeping Job Cuts Push Profit Above Estimates,” read the headlines at Bloomberg.
It’s all part of CEO Carol Tomé’s so-called “Better, Not Bigger” strategy—chasing higher profits by cutting volume–especially the least profitable Amazon packages and subcontracting out work to UPS-owned nonunion subsidiaries like Roadie.
Our union has fought to make Teamster jobs at UPS the best in the logistics industry—and now we have to fight to defend them.
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