UPS CEO Successfully Pitches New Labor Contract, Says 46% Of Compensation To Occur In First Year
Portfolio Pulse from Akanksha Bakshi
UPS CEO Carol Tome has stated that the costs related to the new Teamsters contract are less than the $30 billion claimed by the union. The contract is structured with 46% of the compensation occurring in the first year, which Tome considers cost-effective and fair. The agreement is seen as beneficial for the union, customers, and the company. However, UPS shares are trading lower by 1.52% in premarket trading on Tuesday.
September 12, 2023 | 1:14 pm
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The new Teamsters contract is reportedly less costly than claimed by the union, which could be financially beneficial for UPS. However, the company's shares are currently trading lower.
The new labor contract, which is less costly than initially claimed, could lead to financial savings for UPS. However, the company's stock is currently trading lower, indicating a negative short-term impact. The news is highly relevant as it directly involves UPS and its financials.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100