UPS and the Teamsters Union reached a tentative agreement late last month, averting a strike.

UPS also has a market cap of 156B$ vs Fedex’s 66B$. Both average around 90B$ in revenue. Fedex drivers maker an average of 52k$ a year. Fedex doesn’t have any unions.

In summary, it seems that having a union helps workers earn a lot more, but also help the company have significantly better stock market performance.

  • spectre [he/him]@hexbear.netEnglish
    0·
    1 year ago

    My understanding is that the cost of decent benefits for an employee is often about the same as their wage. I don’t exactly have firsthand experience, but I believe that companies budget for expansion hires using this rule of thumb (intended wage x2 is the total cost to hire them).

    • AlecSadler@lemmy.mlEnglish
      0·
      1 year ago

      As a business owner, at least in my experience it’s about 30-50% more per employee’s base wage for benefits.

      I don’t say that negatively. I am not entirely sure how it would hit 2x though, but I suppose it would depend on the industry? My particular industries don’t have overhead of trucks, uniforms, badges, etc.

      edit: I think people misunderstood what I’m saying. I’m basically saying that I feel like UPS is inflating some side of numbers to argue for a “total compensation” amount but the reality being a lower base amount for the employees. Benefits have value, for sure, but I personally think UPS drivers base pay needs to be higher.