UPS's stock snaps win streak after Teamsters say talks collapse due to 'unacceptable' contract offer

Teamsters say talks with UPS have collapsed

Shares of United Parcel Service Inc. dropped for the first time in seven sessions Wednesday, after the union representing more than 340,000 employees said the delivery giant “walked away” from the bargaining table after its labor contract offer was unanimously rejected.

“This multibillion-dollar corporation has plenty to give American workers — they just don’t want to,” said Teamsters General President Sean O’Brien. “UPS had a choice to make, and they have clearly chosen to go down the wrong road.” “We’re proud of our offer,” UPS said in a statement. “It delivers wins for our people. The Teamsters should return to the table to finalize this deal.”

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