Nov 19, 2007
At UPS, Teamsters Union leaders have recommended a new contract stating that no new jobs will be full-time. All new hires will be part-time and without any medical benefits. Pensions will be moved to a different pension fund with more risks to present and future retirees. Retiree benefits will be frozen – at the 1997 level!
UPS made more than four billion dollars in profit in 2006. In 2007 it has given 1.7 billion of its profits out in dividends and plowed another two billion dollars into a stock buy-back program to boost the stock price for wealthy shareholders.
With big concession contracts being imposed in auto, UPS doesn’t even have to pretend to be losing money in order to arrogantly demand deep concessions.
And it did not stop the Teamsters Union leaders from granting them.
It’s up to the workers to say NO!