In late July, UPS and the Teamsters announced they had reached a tentative contract agreement. The unionA 'win-win-win'
However, UPS shares have fallen more than 14% since the July 25 announcement. Tome also estimated that UPS lost more than 1 million packages per day in volume in the weeks leading up to the eventual deal. "We actually started thinking about this contract negotiation the day I onboarded. Where the industry was going, what we needed to survive. We started thinking about this as a strategic imperative," Tome said.
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