UPS 2Q Profits Hit $1.27 Billion

UPS is headed for record profits in 2016 under the contract negotiated by Hoffa-Hall. The numbers for UPS Teamsters are not nearly as pretty.

 

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UPS announced second quarter profits of $1.27 billion after taxes on July 29. On August 1, UPS Teamsters got a pay hike of 40 cents.

The company projects profits will top $5 billion by the end of the year. Management is making big strides under the contract negotiated by the Hoffa-Hall administration. But working Teamsters? Not so much.

The wage increases for the 2013-2018 contract total $3.90. The wage increases in the 2008 contract totaled $4.00, which taking into account five years of inflation would now be $4.40.

The starting wage for part-timers went up to $10. But the real increase was only 50 cents because the $1 raise that part-timers used to get after 90 days was eliminated by the contract. 

The progression has been increased from three-years to four-years so 22.3s and drivers have to wait longer to reach full union scale.

The majority, but not all, UPS Teamsters got healthcare cuts under the new contract too.

UPS Freight and the company’s logistics arm took in $192 million in profits for the quarter, down slightly from $207 for the same period last year because of low demand from freight shippers.

UPSers are happy they work for a profitable company, but we want those profits to be shared. Brown made over 98 percent of its second quarter profits in the U.S.

Working Teamsters deliver big profits for UPS; it’s time for International Union leadership that will make UPS deliver for working Teamsters.

UPS Profits Rise on E-Commerce Growth (Wall Street Journal)

UPS Profits Slip at Supply Chain & Freight Segment

Read UPS’s official earnings announcement.

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