NYC Comptroller to UPS CEO: Extended Strike Could Damage Country’s Highest Volume Parcel Company Long-term

New York, NY – Two weeks before the International Brother of Teamsters and UPS’ negotiation deadline, New York City Comptroller Brad Lander wrote to United Parcel Service (UPS) CEO Carol Tomé, urging the company to effectively address part-time employee pay concerns in contract negotiations. Part-time employees make up nearly 50% of UPS employees and perform crucial roles as package handlers, loaders and unloaders throughout the parcel system.

The letter expresses the critical need for resolution amidst the potential ripple effects on the nation’s economy of the looming August 1 deadline. “We fear that an extended strike could have long-term damaging effects on the company, destroying shareholder value and long-term returns,” Comptroller Brad Lander states in the letter.

Comptroller Lander cautions UPS on the potential for an extended strike to diminish long-term shareholder returns, a move that would negatively impact New York City’s pension funds whose shares are valued at $191,067,415 as of June 30. Comptroller Lander wrote, “The UPS approach to service delivery, sustainability, and collaborative human capital management… has reliably delivered not just packages to America’s doorsteps, but strong shareholder value over many years.” He urges the company to make an offer that both addresses the real concerns of its part-time employees and delivers for its customers, employees and shareholders, including nearly 800,000 New York City public employees, retirees and beneficiaries.

Failing to reach a resolution threatens to not only slow delivery times for consumers, but also cause supply chain breakdowns for vulnerable industries like small businesses and hospitals. A 10-day strike could reportedly cost the US economy $7.1B in losses.

Read New York City Comptroller’s letter to UPS CEO Carol Tomé.

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