The last remaining local agreement under the International Brotherhood of Teamsters Small Package Agreement with UPS (NYSE:UPS) was ratified on Sunday, April 28.

The master contract covering approximately 243,000 UPS employees was negotiated earlier, and all remaining supplements have now been ratified. The master contract will be effective on April 29, 2019.         

“We are pleased to learn that everything now is in place to implement our agreement with the Teamsters,” said Teri McClure, UPS Chief Human Resources Officer and Senior Vice President, Labor. “This agreement, and the previously negotiated master agreement covering UPS Freight employees, helps to ensure that UPS and our employees are well positioned for success in the coming years.”

The new five-year contract will run from August 1, 2018 through July 31, 2023. More information can be found on the UPS Investor Relations website after the contract is implemented.

UPS’s overriding goal during the contract negotiations has been to reward the company’s employees for their contributions to its success while simultaneously enabling the business to remain flexible to meet customer needs.

Source: UPS