UPS extends buyout offer deadline after low driver interest

UPS extended the deadline of Van drivers to apply for a two -week purchase package, which indicates that the program did not meet its goal to eliminate jobs.

The integrated parcel company initially gave drivers until July 31 to apply for the volunteer separation offer, but the Teamsters federation posted on its Facebook page on Friday that “the package giant has quietly extended the deadline for voluntary submission plan.” A spokesman for the Federation refused to provide details, but a member of the local Teamsters office on the western coast said that UPS (NYSE: UPS) provided delivery drivers until August 14 to take the acquisition.

A person is not allowed to speak with the media and his identity is not determined to avoid any repercussions of the employer.

Carroll Tommy, UPS CEO, said at the company’s profit conference on July 29, that the acquisition of the acquisition was “great attention” until now, but the company has not announced the number of people who subscribed and whether the package had ended or was classified. A UPS spokesman refused to submit any update on the situation.

About 85 % of UPS drivers at the upper end of the payment scale. Nando Cesaron, head of the American region and airlines, told their analysts that those who have 25 to 40 years of service will be the most likely candidates to accept the acquisition package.

UPS offers $ 1800 a year of service, with a minimum of $ 10,000. The 27 -year -old driver will receive a 48,600 dollar purchase, according to the show paper.

It is not clear whether the delay in achieving the goal of reducing jobs will change the timing of separation dates.

Applicants have been informed that they will be considered to be seen between August 31 and October 31, depending on local needs. If the number of applications stipulated, the approvals will be granted in seniority. Additional requests can be seen on the dates of February 1 and March 31. The financial package in addition to acquired retirement advantages, including pensions and health care.

Teamsters Union has opposed the UPS acquisition as a violation of its main contract 2023, which requires UPS to create about 30,000 full -time jobs. Urging member union leaders to reject the voluntary separation package.

The Teamsters team argues that the separation program violates the Federation contract because it has not been negotiated and any program that changes the conditions of employment, such as compensation and separation, must negotiate with the union. The seniority order requires the acquisition of the union’s approval.