On the day negotiators had said UPS must present its “last, best and final” contract offer, talks broke down Wednesday with each side blaming the other and walking away from the table.
Currently the contract with 340,000 UPS workers expires July 31, and if they go on strike, it could have significant consequences for the economy – higher prices for individuals and longer waits on supply chain problems, experts say.
Talks are at a stalemate and UPS workers already have voted to authorize strike when the contract expires.
The International Brotherhood of Teamsters gave UPS a one-week notice last Tuesday to act responsibly and exchange a stronger economic proposal for more full- and part-time workers.
The package delivery company, UPS, said Wednesday, July 5, it was the Teamsters who abandoned negotiations, “despite UPS’s historic offer that builds on our industry-leading pay.”
Higher prices and long wait times are all but certain if there is an impasse.
UPS ships 24 million packages on an average day – which amounts to about a quarter of all U.S. parcel volume, according to the global shipping and logistics firm Pitney Bowes. UPS describes it as the equivalent of about 6% of nation’s gross domestic product.
