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The way in which the union was structured meant that all Teamsters would receive synonymous benefits, regardless of what company they actually worked for. These benefits were controlled by the Teamsters multi-employer pension fund. UPS wanted to back out of the plan, and offer their workers a new pension plan that UPS would control. [6]
The pact included several major concessions by the employer: Starting pay of part-time workers would increase for the first time since 1982, 10,000 part-time jobs would be converted into full-time jobs, UPS would stay in the union's multi-employer pension plan, most workers would see significant benefit increases, and five-sixths of all new ...
If 340,000 UPS workers walk off the job Aug. 1, it would be the largest strike against a single business in US history. UPS and Teamsters restart contract talks Tuesday. Billions are at stake.
UPS is the largest employer in the Teamsters ... of 600,000 Teamsters pensions from cuts through the American Rescue Plan. ... that they were friends when they shored up the pension fund.” ...
UPS and the Teamsters reached a tentative deal on a new labor contract Tuesday, potentially averting what could have been a crippling strike. What it means really is up to the 340,000 rank-and ...
UPS and the Teamsters have reached a tentative deal on a new contract, potentially avoiding a strike. A labor stoppage could have started as soon as next week and crippled US supply chains and ...
Meanwhile, there was growing concern over the solvency of Teamster pension funds, particularly the giant Central States Pension Fund. While the 2008 financial crisis was partly to blame, a bigger problem was that Teamster leaders had let key contributing employers walk away from their pension obligations, leaving the funds in dire shape. [34]
Teamsters union members furious with a decision by union leaders to ratify a five-year contract covering United Parcel Service Inc.'s (NYSE: UPS) small-package workers, despite the contract ...