United Parcel Service, Inc. (NYSE:UPS) workers have voted in favor of a strike in the hopes that the company will review employee benefits.
An overwhelming majority of aircraft maintenance workers have voted “yes” to make a strike happen, with 98% of them displeased with the company’s recent moves. Health-care benefits have been key for these employees and UPS appears to be taking them away from many.
It has now been three years in which the company has been negotiating with union members, seeking to reduce the active and retiree health benefits that its workers are privy to. Additionally, UPS wants to raise healthcare costs for families significantly, with some having to pay 430% of what they are paying now.
The move would apply toward the first year of a new contract that workers would have to pay, with the company raising these figures each year folowing the first increase. This move comes at a time when UPS is posting record profits, dividend payouts and strong executive compensation packages.
The voters that went against the company’s moves includes UPS mechanics and workers in more than 90 U.S. locations that are part of a union called Teamsters Local 2727. This amounts to 1,200 employees, 80% of which participated in the strike vote, and 98% of which voted in favor of a strike.
The voting took place in October and November via an e-mail ballot.
UPS shares fell 0.8% Monday.
