The UPS CEO said drivers will average $170,000 in wages and benefits like health care and pensions, while end of a contract of five years that the shipping giant signed with the Teamsters union last month, avoiding a strike.
The tentative agreement covers some 340,000 workers. The company and the union are in the midst of a ratification vote that began Thursday and ends August 22.
“We expect our new labor contract to be ratified in two weeks,” UPS CEO Carol Tomé said on an earnings call on Tuesday.
The company cut its full-year revenue and margin forecasts “primarily to reflect the impact on the volume of labor negotiations and costs associated with the tentative agreement.”
The agreement would increase wages for part-time workers to at least $21 an hour. His salary was a sticking point during the negotiations.
Full-time workers will average $49 an hour, and the agreement would end mandatory overtime on drivers’ days off, according to a summary published by the Teamsters Union.
The agreement is the latest major wage increase won in labor negotiations. Workers, from drivers to aerospace manufacturing employees, have recently lobbied and won higher salaries.
This article It was originally published in English by leslie josephs for our sister chain CNBC.com. For more from CNBC enter here.
