UPS union strike looms after Teamsters and the company can't agree on deal

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Negotiations between UPS and the Teamsters over a new contract for the roughly 350,000 unionized workers at UPS are moving ahead as the threat of a potential strike later this summer hangs over the economy.

UPS’ role in the U.S. economy has grown in recent years due to the rise of e-commerce and an influx of deliveries during the pandemic – a trend that has remained even as the economy reopened and supply chain challenges abated.

The company ships about 24 million packages per day and handles roughly one-fourth of all U.S. parcel volume according to shipping and logistics firm Pitney Bowes, which UPS notes is roughly equivalent to 6% of America’s gross domestic product.

The sheer volume of UPS deliveries couldn’t be absorbed by FedEx or the U.S. Postal Service in the event of a strike, which would create delays and increase prices due to the lost capacity in the logistics system. As Thomas Goldsby, a logistics chairman in the Supply Chain Management Department at the University of Tennessee, told the AP, "The python can’t swallow the alligator, and that’s going to be felt by all of us."Subscribe to LiveNOW from FOX! https://www.youtube.com/livenowfox?sub_confirmation=1
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