UPS said that the five-year agreement covers U.S. Teamsters-represented employees in small package roles and is subject to ratification by union members.
The new agreement averted a strike that would have begun if Yellow had remained delinquent on payments to a fund that provides benefits for most of the company's workers.
UPS said that it is pleased to be continuing contract negotiations and that it's prepared to meet some of the union’s demands for better pay and more benefits.
Redwood said that the acquisition of Rockfarm and Global Distribution and Logistics “fortifies” the company’s modern fourth-party logistics (4PL) services.
Executives are also interested in bringing their supply chains closer to home, with 43% of CEOs with a resiliency problem saying they are either already on-shoring or considering
it.