Today, UPS announced operating profits for 2022 of $13.1 billion. UPS expects to make up to $13.5 billion in profits this year. Wall Street and the company are getting theirs. Teamsters at UPS are coming for ours in the 2023 contract.
Once again, UPS Teamsters are leading the company’s economic success and profitability. Peak season revenue in the U.S. was up by more than half a billion dollars compared to 2021. In comparison, company revenue from its international segment was down by $447 million.
UPS Teamsters are uniting to win the contract we deserve in 2023.
Join a zoom event on Sunday, February 5 to find out more about our union’s contract campaign, including the upcoming Contract Unity Pledge drive.
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Wall Street Cashes In
As profits soar, Wall Street investors are cashing in. UPS paid $8.6 billion in cash last year alone to investors through dividends and share buybacks. (Source: UPS Pressroom).
In the meantime, UPS Teamsters have gotten smacked with two-tier 22.4, forced sixth punches, low part-time pay, and even wage cuts when the company arbitrarily reverses MRAs, among other concessions.
UPS and Wall Street Cries Poverty
Incredibly, today’s haul wasn’t enough for Wall Street who wanted even bigger payouts for investors. Analysts point to declining revenue from international shipping, due to volume reductions and softening demand in China. (Source: CNBC).
UPS’s Chief Financial Officer Brian Newman warned that 2023 will be “a bumpy year.”
Teamsters at UPS can expect a lot more management crying as contract negotiations heat up. We’re not falling for it.
Contract 2023: Coming for What’s Ours
UPS made $13.1 billion in profits in each of the last two years. Now, they are projecting profits of $13.5 billion in 2023 despite a slowing economy.
The 350,000 Teamsters at UPS are coming for what’s ours in contract negotiations.
Members need to show the company that we’re united to win the contract we deserve.
Join a zoom event on Sunday, February 5 to find out more about our union’s contract campaign, including the upcoming Contract Unity Pledge drive.