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News
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Teamsters OK use of strike
Union members authorize strike, if necessary, in negotiations with delivery company.
May 20, 2002: 3:09 PM EDT

NEW YORK (CNN/Money) - The Teamsters union said Monday its members had overwhelmingly voted to authorize a strike, if necessary, in its negotiations with United Parcel Service.

The International Brotherhood of Teamsters said that at meetings over the weekend, 93 percent of its members approved the use of a strike should it become necessary.

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A 15-day walkout from UPS (UPS: down $0.56 to $58.99, Research, Estimates) by the trucking union in 1997 led to a $10 million third-quarter loss for the package delivery company.

"It is time that we break the log jam at the negotiating table," James P. Hoffa, Teamsters president, said in a statement. "Our members deserve a strong contract that reflects the success of UPS over the past five years."

A spokesman for UPS stressed that the vote does not mean negotiations are going badly.

"This is literally just a normal part of the negotiating process," said UPS spokesman Norman Black. "It does not mean there is going to be a strike, nor does it reflect what's going on at the bargaining table."

"We are absolutely confident that we are going to have a contract that rewards our employees without disrupting service," Black said.

The Teamsters represents about 230,000 workers at UPS. Their current five-year contract runs out on July 31.  Top of page






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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.