UPS, Chicago Teamsters Agree on New Contract

UPS Inc. and Chicago-area employees represented by the Teamsters Union have reached a preliminary agreement on a new five-year labor contract, averting a potential strike, Bloomberg reported.

The agreement would cover about 17,000 Teamster workers who are not covered under the same labor contract as 224,000 other UPS Teamsters, Bloomberg said.

The Chicago Teamsters’ existing contract is set to expire tomorrow.

The bulk of UPS Teamster work force ratified a new five-year labor agreement in November.

UPS ranks No. 1 on the Transport Topics 100 list of the largest U.S. and Canadian for-hire carriers.