Months of collective bargaining have culminated in a tentative agreement for UPS (NYSE: UPS) and the International Brotherhood of Teamsters. The five-year agreement, which is subject to ratification, covers Teamsters-represented UPS employees in small package roles. UPS’s goal has been to reward the company’s employees for their contributions to its success while enabling the business to remain flexible to meet its customers’ needs – each of these goals have been met in the new agreement. UPS is well-positioned to grow and meet the needs of its customers. Click Read More below for additional information.

U.S. President Joe Biden does not intend to invoke a federal law to prevent a port strike on the East Coast and Gulf of Mexico if dockworkers fail to secure a new labor contract by an Oct. 1 deadline, an administration official said on Tuesday. The International Longshoremen's Association, negotiating on behalf of workers at three dozen U.S. ports from Maine to Texas that handle about half of the nation's ocean imports, warned again on Tuesday that its members are prepared to stop work in two weeks. Their current six-year agreement with the United States Maritime Alliance (USMX), which includes employers like Maersk's (MAERSKb.CO), opens new tab APM Terminals and SSA Marine, expires on Sept. 30. U.S. presidents can intervene in labor disputes that threaten national security or safety by imposing an 80-day cooling-off period under the federal Taft-Hartley Act, forcing workers back on the job while negotiations continue.