The Teamsters union said it plans to conclude by midafternoon Tuesday the ballot counting to determine the outcome of the vote to either ratify or reject a five-year contract with UPS Inc.
The counting is expected to be completed after 3 p.m. EDT Tuesday, with the results announced after that, a Teamsters spokeswoman said Monday. She did not give specifics as to when the results would be made public.
The deadline for submitting ballots had been Tuesday. UPS (NYSE: UPS) employs approximately 340,000 Teamster members.
If ratified by the rank and file, the new contract would be retroactive to Aug. 1.
UPS and the Teamsters agreed on July 25 to a tentative five-year contract that calls for a $2.75-an-hour wage increase in the first year for full- and part-time workers, smaller increases in years two through four and another bump, albeit not as a big as in year one, during the fifth and final year.
By the time the contract ends, senior full-time drivers will earn approximately $170,000 a year in wages and benefits. Part- and full-time workers will get $7.50 more in wages over the life of the contract. The Teamsters have estimated the value of the contract at $30 billion over the five-year period.
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The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now