> Labor: We need a $5 an hour raise. Management: We will give you $0.01 raise.
Labor takes deal because they, in reality, had very little relative bargaining power. But a compromise was made!
Except this doesn't reflect the reality of the deal. Real pay bumps, hiring commitments, a new paid holiday--these aren't minor concessions. There was palpable uncertainty around whether there would be a strike. Teamsters estimates the value of concessions around $30bn; that's 20% of UPS's market cap, delivered to drivers over five years.
Except this doesn't reflect the reality of the deal. Real pay bumps, hiring commitments, a new paid holiday--these aren't minor concessions. There was palpable uncertainty around whether there would be a strike. Teamsters estimates the value of concessions around $30bn; that's 20% of UPS's market cap, delivered to drivers over five years.