UPS Talks with Teamsters and a Look at Factors Impacting Balance Sheets
May 31, 2023
The negotiations between UPS and the Teamsters for a new contract to replace the one ending July 31 have been underway for almost a month now. While there were aggressive remarks and posturing by the Teamsters leading up to the talks, it looks like progress is being made.
In a break from the past, the Teamsters were willing to commence negotiating the national agreement before all of the supplemental agreements were settled. So far, they’ve reached a tentative agreement on five important issues. While this news is encouraging, they’ll be getting into more contentious issues next.
In a recent blog, our friend Tony Nuzio and his team at ICC Logistics Services did a great job of succinctly summarizing the current status of the negotiations. As noted, one of the BIG issues to resolve is the modification of the two-tier wage scale. We’ll continue to provide updates as the situation unfolds.
What else is ahead?
Our Two Minute Warnings over the next couple of weeks will continue our discussion on how your supply chain decisions impact balance sheets. We heard from several folks that this is a critically important issue for their company.
When executives take a holistic view and understand the correlation between their balance sheet and their supply chain processes, they can get better results and improved profitability.
As part of this initiative, we are proud to announce that we will be hosting a new webinar covering what your CFO needs to know about your supply chain's impact on your balance sheet with our friends from CSCMP and the NIT League. Stay tuned for more details and a date.
In the meantime, if you could use help with anything we encourage you to give us a call, send us an email, or schedule time to meet on Calendly.
BY MIKE REGAN, CO-FOUNDER OF TRANZACT
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