UPS slashes pay for part-time workers as profits grow

 

https://www.theguardian.com/us-news/2022/feb/26/ups-part-time-workers-pay-cuts

 

Michael Sainato
Sat 26 Feb 2022 05.00 EST

 

 Thousands of part-time workers at the United Parcel Service (UPS) around the US were recently informed that their hourly wages would be cut, eliminating raises implemented in 2021 at some hubs as a means to attract and retain workers in the tighter labor market.

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“We were told that the raise was permanent,” said Sanchez.

At the end of January, Sanchez said he was informed that his hourly wage and those of every other part-time employee at UPS would revert back to $15.33 an hour. He claimed the wage cut resulted in many workers quitting.

“Part-time workers are the backbone of the UPS operation. With inflation, $15.33 an hour is tough for workers and their families,” said Sanchez. “I work two jobs in order to make ends meet. I’m a married father of three. The $3 cut really takes a toll on our family’s budget.”
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UPS reported record profits in 2021 as it increased shipping prices; its profits grew nearly tenfold in 2021 to $12.89bn from $1.34bn in 2020. Its stock price hit a record high in February 2022. UPS is projecting more growth in 2022, with the expectation to hit 2023 financial goals a year early. The company approved a $5bn stock buyback program in August 2021.

Teamsters local unions at UPS have been holding protests against the pay cuts for part-timers, which have been up to $6 an hour in cuts for some workers.

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