Shares of UPS dropped nearly 9% Tuesday at the opening bell. Profits for the quarter ended in December slid by more than half to $1.61 billion, or $1.87 per share
The Teamsters said in a statement that 86% of the votes casts were in favor of ratifying the national contract
The agreement includes a provision to increase starting pay for part-time workers, which had been a sticking point in the negotiations
UPS said Friday that the training is a temporary plan that has no impact on current operations
Teamsters leadership had urged workers to vote for the strike authorization, which would give them more leverage in their negotiations with the company. UPS says it remains confident it will reach an agreement with the union
The last time UPS workers walked of the job more than two decades ago, it crippled the shipping company. An emboldened union is threatening to do the same and this time the disruption would be far greater
