UPS CEO More Than Triples His Pay

UPS CEO David Abney’s pay has more than tripled during the current contract. Last year UPS paid Abney $14.6 million in total compensation, or just over $7,000 an hour. Remember that, when the company pleads poverty in contract negotiations.

abney-fb_thumb.jpgUPS made $4.9 billion in after-tax profits last year—and UPS CEO Abney has cashed-in big-time, according to the latest company filings with the Securities & Exchange Commission.

Abney’s total compensation has increased by more than $10 million a year since 2013, mostly through massive increases in stock awards. But Abney’s annual salary has also been hiked. UPS paid him $1.2 million in salary last year, more than doubling his salary of $499,494 from 2013.

Our contract covers the same five-year period. It still turns our stomach that Hoffa and Ken Hall let the company get away with cutting the health benefits of more than 100,000 Teamsters, increasing the progression to top pay to four years, and freezing starting pay for UPS part-timers at $10 an hour.

UPS Teamsters won’t accept givebacks and weak bargaining this time. So far, contract negotiations have focused on language issues. When bargaining on economics starts, we’ll be fighting for:

  • Fair wage increases with no split raises
  • Pension and healthcare improvements
  • Higher wages and more guaranteed hours for part-timers
  • $15 part-time starting pay, with catch-up increases for all part-timers already on the payroll
  • More full-time jobs

Send UPS the message that we’re united for a fair contract and we won’t settle short!

Click here to sign the UPS Teamsters United petition.

Click here to get involved with UPS Teamsters United.

Sources:

United Parcel Service Inc. filings with the Securities & Exchange Commission, March 16, 2018

Wall Street Journal: UPS CEO’s Total Compensation More Than Doubles in 2014

 

Get Advice Join TDU Donate

Recent News

Yellow Trims Losses: Best Quarter in Six Years

Yellow Corporation released its first quarter financials on May 10. The company shows strong improvement but is still not profitable. Yellow’s overall operating ratio of 99.3 percent is 3 percent better than a year ago, but well below other LTL carriers, including ABF and TForce.

 

Sysco Profits Up

Sysco Corp announced its quarterly financial report on May 10, with profits and revenue both up dramatically since last year.  Profits for the quarter were $303.33 million, up from $88.9 million last year. Revenue rose 43% from $11.8 billion to $16.9 billion.

View More News Posts