The estimate from Anderson Economic Group said the hit to businesses and consumers would be $4.6 billion by itself, causing “significant and lasting harm for small businesses, household workers, sole practitioners, and online retailers across the country.” Other costs include estimated direct losses at UPS of $816 million, as well as $1.1 billion in lost wages by 340,000 members of the Teamsters union at the company. The remaining costs would be born by UPS suppliers and from lost tax revenue.
“While we have made great progress and are close to reaching an agreement, we have a responsibility as an essential service provider to take steps to help ensure we can deliver our customers’ packages if the Teamsters choose to strike,” said a statement from the company. UPS handled an average of 20.8 million US packages a day last year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The oldest craft brewery in the United States is shutting down after 127 years | CNN BusinessPour one out for Anchor Brewing: America’s oldest craft brewer is shutting down after 127 years in business.
Source: CNN - 🏆 4. / 95 Read more »
Elon Musk announces a new AI company | CNN BusinessElon Musk on Wednesday announced the formation of a new company focused on artificial intelligence, after months of teasing plans to build a rival to ChatGPT.
Source: cnni - 🏆 326. / 59 Read more »
Bill Gates says AI risks are real but nothing we can't handle | CNN BusinessBill Gates sounds less worried than some other executives in Silicon Valley about the risks of artificial intelligence.
Source: CNN - 🏆 4. / 95 Read more »
Arizona man targeted by January 6 conspiracy theorists sues Fox News for defamation | CNN BusinessRay Epps, the Arizona man that conspiracy theorists falsely claim led an FBI plot to orchestrate the January 6 insurrection, filed a lawsuit on Wednesday against Fox News, accusing the right-wing channel and former host Tucker Carlson of defamation.
Source: CNN - 🏆 4. / 95 Read more »
Actors are poised to go on strike against studios and streaming services | CNN BusinessSome very famous faces are once again less than a day away from hitting the picket lines as the union representing about 160,000 actors prepares to possibly go on strike against major studios and streaming services.
Source: CNN - 🏆 4. / 95 Read more »