The UPS CEO stated that drivers will receive an average of $170,000 in total compensationincluding wages and benefits like health care and retirement.
This information was released as part of a five-year contract agreement the shipping company entered into with the Teamsters union last month, aimed at preventing a strike.
The agreement will apply to some 340,000 employees. Right now, the contract is being voted for approval, a process that began on Thursday and will end on August 22.
“We expect our new labor contract to be ratified in 2 weeks,” UPS CEO Carol Tomé said, according to UPS.
The company changed its estimates of how much money it will make and how much margin it will have throughout the year..
He did this mainly because the negotiations with the workers affected the amount of work they will do and also because the tentative agreement will cost them more money.
The preliminary agreement would increase wages for part-time employees to a minimum of $21 per hour. The issue of their salaries generated tensions during the talks.
According to a summary published by the Teamsters Union, full-time employees will average $49 per hourand the agreement would end the need for drivers to work overtime on their days off.
This deal is the latest time workers have won a big pay raise through negotiations with unions.
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