UPS drivers will earn an average of $170,000 in annual pay and benefits at the end of a five-year contract agreement, UPS CEO Carol Tomé said during an earnings call this week.
The executive's comments punctuated the end of a weekslong struggle between UPS and the Teamsters Union which negotiated with the carrier last month to avert a strike and secure a new contract for 340,000 union employees. More than 70% of UPS' 443,000 employees are represented by the Teamsters' Union, the company's website shows.