Statement from NYC Comptroller Lander on UPS and Teamsters Reaching Tentative Agreement Before Deadline

New York, NY — New York City Comptroller Brad Lander released the following statement on reports of a tentative agreement between UPS and the International Brotherhood of Teamsters. Comptroller Lander, as the custodian of the New York City Retirement Systems, previously sent a letter to UPS CEO Carol Tomé expressing his concerns about the economic and market impacts of a potential strike and urging the company to fairly negotiate last week.

“Averting a strike with a deal is a win-win-win for UPS, the workers, the economy, consumers, and shareholders. As I wrote to UPS last week, an extended strike had the potential to inflict long-term damage to the company, weakening shareholder value and long-term returns. UPS instead recognized that reaching a fair deal with their labor partners was a far better way of strengthening the company.

“UPS’ approach to these negotiations stands in stark contrast to gig economy transport and delivery companies whose business practices are steeped in squeezing every dollar from the people who deliver their profits. Rather than fight against minimum pay laws, app companies, Amazon, and others should follow suit, deliver fair wages, and respect their workers’ freedom of association. Congratulations to the Teamsters on winning a tentative agreement for hundreds of thousands of workers at UPS — and reminding all of us that an economy that works for workers is better for everyone.”

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