United Parcel Service Inc.’s union workers ratified a new five-year labor agreement delivering substantial wage increases, concluding a tense period of negotiating that drove the company to the brink of a strike.
About 86% of employees voted to approve the deal, the International Brotherhood of Teamsters said Tuesday in a statement, the union’s highest vote ever for a contract with UPS. It will go into effect after one local affiliate in Florida votes to ratify its supplemental agreement, the statement added.
The pact, tentatively agreed to last month, covers about 340,000 unionized UPS workers and has about $30 billion of new money, the Teamsters have said.
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