KNOWLEDGE is POWER / REAL NEWS is KEY
New York: Sunday, October 01, 2023
© 2023 U-S-NEWS.COM
Online Readers: 333
New York: Sunday, October 01, 2023
Online: 322
Join our "Free Speech Social Platform ONGO247.COM" Click Here
tagreuters.com2023binary_LYNXMPEJ8A0TN-BASEIMAGE

MONEY & BUSINESS: UPS estimates new contract with Teamsters to increase costs 3.3% – One America News Network

Website 👉 https://u-s-news.com/
Telegram 👉 https://t.me/usnewscom_channel

(Reuters) -Parcel Service said on Monday its new five-year contract covering some 340,000 Teamsters-represented workers in the United States would increase wage and benefit costs at a 3.3% compound annual growth rate over the life of the agreement.

The new contract expires on July 31, 2028, and 46% of wage and benefit costs from that agreement will hit this year, UPS Chief Financial Officer Brian Newman said in a recorded message.

Advertisement

Google Ad
Google Ad

Contract-related costs in the second half of 2023 are expected to be about $500 million more than UPS expected, Newman said.

(Reporting by Kannaki Deka in Bengaluru and Lisa Baertlein in Los Angeles; Editing by Sriraj Kalluvila and Lisa Shumaker)

tagreuters.com2023binary_LYNXMPEJ8A0V0-BASEIMAGE





Source link

(Visited 1 times, 1 visits today)
OnGo247
New 100% Free
Social Platform
ONGO247.COM
Give it a spin!
Sign Up Today
OnGo247
New 100% Free
Social Platform
ONGO247.COM
Give it a spin!
Sign Up Today