UPS Cashes In On Concessionary Contract

UPS executives announced that the company tripled its peak-season profits and hauled in an astonishing $4.8 billion in profits after taxes in 2015. The company’s freight sector, including UPS Freight, reported higher revenue and profits too.

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On a conference call with shareholders and industry analysts, Brown execs promised this is just the beginning. They predicted the company will make $5.1 to $5.3 billion in 2016.

Contract concessions are paying off for management, but for working Teamsters it’s a very different picture.

  • Tens of thousands of Teamsters face healthcare cuts under the new Teamcare health plan. In the Southwest, members are diverting over $1,000 a year in pension contributions to pay for their healthcare. (So much for Ken Hall’s promise that "members would not pay $90, $9 or $9 cents" for their healthcare.)
  • Close to 9,000 Teamsters who retired from UPS before 2008 may see their monthly pensions cut in half under the pension cut plan proposed by Central States.
  • Starting pay for UPS part-timers is frozen at just $10 an hour—well below the minimum wage of $15 that unions and the Fight for $15 movement are fighting for, and winning, in some areas.

UPS is a story of run-away corporate greed and International Union leadership that’s too weak to stand up for the members. The only antidote is for working Teamsters to organize for change. That’s what TDU is all about. Contact us and get involved today.

Click here to read the profits report from the UPS pressroom.

Click here to read press reports on UPS profits.


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