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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

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'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
FinanceUPS

UPS drivers are rolling in dough as union spikes the ball: ‘Our members just ratified the most lucrative agreement the Teamsters have ever negotiated at UPS’

By
Haleluya Hadero
Haleluya Hadero
,
Matt Ott
Matt Ott
, and
The Associated Press
The Associated Press
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By
Haleluya Hadero
Haleluya Hadero
,
Matt Ott
Matt Ott
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
August 22, 2023, 4:51 PM ET
Teamsters hold signs at a rally during contract negotiations
UPS workers hold placards at a rally held by the Teamsters Union on July 19, 2023 in Los Angeles, California,. On Aug. 22, union members ratified a five-year contract with UPS that will see the top-paid drivers earn $170,000 a year in salary and benefits.
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The union representing 340,000 UPS workers said Tuesday that its members voted to approve the tentative contract agreement reached last month, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide.

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The Teamsters said in a statement that 86% of the votes casts were in favor of ratifying the contract. The union said said it was passed by the highest vote for a contract in the history of the Teamsters at UPS.

The union said all supplemental agreements were also ratified, expect for one which covers roughly 170 members in Florida.

“Our members just ratified the most lucrative agreement the Teamsters have ever negotiated at UPS. This contract will improve the lives of hundreds of thousands of workers,” Teamsters General President Sean M. O’Brien said in a statement. “Teamsters have set a new standard and raised the bar for pay, benefits, and working conditions in the package delivery industry. This is the template for how workers should be paid and protected nationwide, and nonunion companies like Amazon better pay attention.”

Voting on the new five-year contract began Aug. 3 and concluded Tuesday.

After negotiations broke down in early July, UPS reached a tentative contract agreement with the Teamsters just days before an Aug. 1 deadline.

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