The world's biggest package delivery firm and the International Brotherhood of Teamsters have until midnight on July 31 to reach a contract deal covering some 340,000 workers that sort, load and deliver packages in the United States.
If a deal is not done by the deadline, UPS workers have vowed to strike.
A 10-day strike could cost the U.S. economy more than $7 billion, according to a recent estimate from Anderson Economic Group.
"A new Teamsters deal could drive cost per piece (about) 2% higher than current expectations," Susquehanna analyst Bascome Majors said in a client note this week.
Reporting by Lisa Baertlein in Los Angeles Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.
Persons:
Bascome Majors, Alfredo Ortiz, Bernie Marcus, we're, Ortiz, Lisa Baertlein, Chris Reese
Organizations:
Wednesday, United Parcel Service, Teamsters, International Brotherhood of Teamsters, UPS, Anderson Economic, Retail Industry, Association, Network, Home, Thomson
Locations:
ANGELES, U.S, United States, Susquehanna, Los Angeles