Will UPS (Teamsters Union) workers go on strike at any point during Summer 2023 (Wed, Jun 21, 2023 - Sat, Sep 23, 2023)?
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https://www.cnn.com/2023/08/22/business/ups-strike-vote-teamsters-union/index.html
Rank-and-file members of the Teamsters union have overwhelmingly ratified a five-year deal with UPS, putting an end to the threat of a crippling strike.
Voting results in a few hours.
https://twitter.com/Teamsters/status/1693996287828668710?t=caYdlbA2rbLvK1PLKFkc1Q&s=19
Strike could still happen
But the threat of a strike is not over. There is still lingering anger among many Teamsters, and even with the increases in pay and other wins at the bargaining table membership could vote down this deal.
“There’s a lot of frustration and I’m not sure they’re going to ratify a contract on the first round, regardless of what’s in it.”
https://www.cnn.com/2023/07/25/business/ups-teamsters-deal-strike/index.html
https://www.wsj.com/articles/ups-teamsters-reach-agreement-on-new-contract-a134c910
"United Parcel Service UPS and the International Brotherhood of Teamsters have reached an agreement over a five-year labor contract, preventing a potential strike by roughly 330,000 package-delivery drivers and package sorters.
The labor union said the contract was worth around $30 billion overall. The agreement still has to be ratified by employees."
@TANSTAAFL The agreement is "Tentative" this just gives them until August 22nd 2023. They can still strike within the timeframe of the market description. Many comments below.
Yes, I realize. I haven't seen any reports of union concessions that are still worth striking over.
@foginx I would say it should be around 22%, half of what it was before the sell off. I think most that got out didn't know they have to vote or maybe didnt know that the vote would be in August or that the vote ends 4 weeks from today. Or maybe just exiting to take liquidity away.
The labor deal is still subject to a ratification vote by the more than 300,000 workers.
Voting will begin August 3rd and conclude August 22nd 2023.
@parhizj They still have to vote on it, and per the description they could still strike "during the Summer 2023 (Wed, Jun 21, 2023 - Sat, Sep 23, 2023)"
@SirCryptomind Yes, but the market I created that specifically set the date for Aug 1 is extremely unlikely at this point. Still won’t close until the vote is finalized.
@LBeesley Yea, your market is pretty safe to be a NO most likely.
However, on this market, I would like to add that FEDEX Pilots had a Tentative Deal with their Union in place June 13th 2023, but Yesterday July 24th 2023 voted against it.
So "tentative" for now is more of an avoidance of disruption going into next week. Also, it is not known when the Teamsters will vote on the UPS deal.
Teamsters: We Want Profit Sharing
UPS:
https://twitter.com/Teamsters/status/1681743613842059267
"
UPS BOWS TO TEAMSTER PRESSURE, NEGOTIATIONS TO RESUME NEXT WEEK As thousands of
#Teamsters practice picket, rall, and mobilize around the country, UPS bowed today to the overwhelming show of Teamster unity and reached out to the union to resume negotiations.
"
@parhizj My buddy says that they are still on for the strike. Negotiations may be resuming, but they still want the Teamsters to bow to their requests and it is not happening.
