UPS Drivers Consider Going On Strike, After Failed Labor Talks: Report
Portfolio Pulse from Akanksha Bakshi
United Parcel Service, Inc. (UPS) workers are reportedly heading towards a strike after failed labor talks with the Teamsters. The potential strike by over 300,000 UPS drivers threatens to disrupt the U.S. supply chain. The current labor contract expires at the end of July, and union employees will not work beyond July 31. UPS shares are trading lower by 2.15% at $179.81 premarket on Wednesday.
July 05, 2023 | 11:43 am
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NEGATIVE IMPACT
UPS is facing a potential strike from its workers after failed labor talks, which could disrupt the U.S. supply chain. This news has led to a decrease in UPS's premarket share price.
The potential strike by UPS workers could significantly disrupt the U.S. supply chain, which would likely have a negative impact on the company's operations and revenues. This uncertainty is likely causing investors to sell their shares, leading to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100