United Parcel Service (UPS) reached a tentative agreement on Saturday with the International Brotherhood of Teamsters that delays a possible strike over the nation's largest private-sector collective bargaining agreement.
The Teamsters, which represents 340,000 drivers, touted three aspects of the agreement: an end to a two-tier employment system that gives part-time workers lower pay, an end to forced overtime work, and the establishment of Martin Luther King Jr. Day as a paid holiday.
UPS OFFERS TEAMSTERS 'SIGNIFICANT' PAY BOOST AS UNION'S STRIKE THREAT LOOMS
Teamsters President Sean O’Brien announced the tentative agreement late Saturday.
"Gains made by the #Teamsters at the national table with @UPS today cannot be overstated. From the jump, UPS knew we demanded an end to forced overtime, the respect to take MLK Day as a real holiday, and the complete destruction of the unfair 22.4 wage system," O’Brien said. "But make no mistake — we are not done. @UPS knows we must reach full agreement on other economic issues, including higher wages, within the next few days."
TEAMSTERS GIVE UPS ULTIMATUM, DEMANDING BEST CONTRACT OFFER BY FRIDAY OR RISK ‘IMMINENT’ STRIKE
The Teamsters had a planned strike, but held off last week after UPS made a counterproposal to their negotiated requests. The current labor agreement expires at the end of July, which could mark a strike if a new permanent deal is not reached.
"#Teamsters are continuing to exert enormous pressure on @UPS to concede to the demands of the hardworking members who make the company its multibillion-dollar profits," the union tweeted Saturday. "And no one can doubt UPS Teamsters are ready to #strike if the delivery giant fails to meet those demands."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The UPS Teamsters last held a strike in 1997. A potential strike in July would mark the largest in U.S. history as delivery demands continue to rapidly grow. Private competitions would be forced to pick up the estimated 24.3 million packages per day delivered by UPS.
