UPS Freight approve new labor contract, avoid strike

United Parcel Service reported third-quarter earnings before markets opened Wednesday morning that met profit estimates but missed slightly on revenues. Investors are not in a forgiving mood.

UPS Freight workers voted to approve a new labor contract, averting a potential strike that could have affected the shipment of packages across the country.

Though workers rejected the initial offer in October, the second round of negotiations — which included raising wages and limiting the amount of subcontracted work — proved more successful.

A total of 77 percent of workers approved the contract at local union meetings held between November 7 and 11, with 84 percent of eligible members voting, according to the Teamsters union.

The agreement covers approximately 11,600 workers.

“Our teams began contacting customers immediately after ratification,” UPS said in a statement Sunday. “We thank our customers for their patience and loyalty.”.

Follow USA TODAY intern Ben Tobin on Twitter: @TobinBen.

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