A UPS strike could start at the beginning of August, and the work stoppage could be the most expensive in at least a century, according to a new report.
Teamsters General President Sean O'Brien tells"Your World with Neil Cavuto" UPS may be delaying reporting its profits in order to have a better negotiating position with the union.
Hundreds of thousands of UPS drivers could go on strike by the end of the month, and the walkout could be the most expensive one in the U.S. in at least a century. That is according to a new analysis from the Anderson Economic Group, a Michigan-based think tank that specializes in the economic impact of labor strikes. The report estimates that"The consequences here of this strike would reach every town in America in a matter of days," Patrick Anderson, president of Anderson Economic Group, told FOX Business.
United Parcel Services workers walk a"practice picket line" on July 7, 2023, in the Queens borough of New York City, ahead of a possible UPS strike. The $7 billion figure includes UPS customer losses of at least $4 billion and lost direct wages of more than $1 billion. It does not take into consideration strike pay, unemployment benefits, unemployment taxes, income taxes, government spending or settlement bonuses.
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