UPS and Teamsters Union Hold Emergency Meeting to Prevent Massive Nationwide Strike

The United Parcel Service and the Teamsters union, representing 340,000 employees at UPS, are planning to hold a meeting to prevent a threatened strike scheduled for August 1. Although there have been agreements on certain issues, such as air conditioning on delivery vans, the union still advocates for better wages for part-time employees, who make up about half of UPS workers. Both parties face mounting pressure, with Teamsters-represented workers vowing to strike if a deal is not reached by the contract's expiration at midnight on July 31. Investors and UPS customers are also urging the two sides to avoid a work stoppage, as it could disrupt shipments nationwide and lead to supply-chain backups, potentially fueling inflation. Estimates suggest that a 10-day UPS strike could have a significant economic impact, costing more than $7 billion, making it the costliest strike in modern times.