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Investors have joined UPS customers in urging the two sides to avoid a work stoppage that would disrupt shipments across the country and create supply-chain backups..
UPS has reached a contract agreement with its 340,000-person strong union Tuesday, averting a strike that had the potential to disrupt logistics nationwide for businesses and households alike.
No agreement is reached. isabel isabel rosales has more. >> reporter: they say they are ready to go on sfriek if it comes to that. the leverage point is 340,000, the number of people that work the u.p.s. they insist they are ready to get this started day one if u.p.s. cannot concede to their terms. and if it does come to a strike, it would be the costliest work stoppage ever in u.s. history according to the anderson economic group, that's a research firm who estimates that a ten-day u.p.s. strike would cost the u.s. economy over $7 billion. one of the biggest sticking points in these -- this c...
Strike next month. the united auto workers could do the same in september. you and president biden are strong allies of the unions. could these strikes jeopardize the fragile economic recovery? >> well i'm hoping that the hollywood -- the writer's strike and the actor's strike will find a path. >> they're pretty far apart. >> well, they're far apart. the fact is that these people have to be paid for their creativity. and, again, we like the creativity on the management side as well. they have to come together. in terms of u.p.s., i'm close to u.p.s., for 100 years they've been a union shop. an...
If it comes to a strike, that would be incredibly costly to the economy. anderson economic group, a research firm estimates that a ten-day ups strike would cost the economy over $7 billion, making it the costliest work stoppage ever in u.s. history. one of the biggest sticking points to this negotiation are part-time workers. on average, full-time ups workers make 95,000 a year, but part-time workers make on average $20 an hour with the starting pay at $16.20. the union says that has to change. it needs to be a more livable wage. here's what else the general president had to say about negotiat...