UPS and Teamsters' marathon talks end without a deal to avoid a strike | CNN Business

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A marathon negotiating session between UPS and the Teamsters union ended early Wednesday morning with both sides accusing the other of walking away from the table

The current contract expires July 31, which means 340,000 UPS workers could go on strike August 1. The two sides had been trying to reach a deal to stop nervous UPS customers from starting to move their business to rival delivery services including the US Postal Service and nonunion FedEx.

A key union demand is to eliminate a two-tier wage scale that was put in place during the last contract to help UPS expand its delivery service to six days a week, up from five days. The union points to record profit that UPS recorded in recent years, which have nearly doubled during the five-year life of the current contract, from an adjusted net income of $6.3 billion in 2018 to $11.3 billion on that basis last year.

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