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IPFS News Link • Business/ Commerce

Just Months After "Massive Labor Deal," UPS Announces Massive Layoffs

• Zero Hedge

How it started: The most pro-union president in history, President Biden, applauded Teamsters and logistics company United Parcel Service last summer for agreeing on a new labor contract that would significantly boost pay. 

Five months after unionized UPS workers ratified a massive five-year labor deal that included massive pay bumps (read: here), the logistics company announced on Tuesday morning that 12,000 jobs, or about 14% of its 85,000 management jobs, would be cut. 

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