Hacker News

Sorry guys, we had to pay them a living wage. Things are gonna be a little tight this year.

This is the best summary I could come up with:

Shipping giant UPS has warned its profits will be lower than planned this year, in part reflecting the pay increases it agreed to grant US workers in a labour deal last month.

UPS said the average full-time driver would earn about $170,000 (£135,000) annually, including healthcare and other benefits, by the end of the five-year contract.

As rising living costs strain household budgets, labour tensions have boiled over, leading to unionisation campaigns at Starbucks and other companies, and strikes across the country.

In a call to update investors on Tuesday, UPS said the deal reached with the Teamsters - expected to be approved by workers in a vote this month - would also weigh on its profits.

Prior to the new deal, the company said drivers earned about $95,000 in pay annually on average or about $42 an hour, and another $50,000 in benefits.

The agreement reached with the Teamsters last month raised starting pay for part-time staff to $21 an hour, recognised Martin Luther King Jr Day in January as a holiday for the first time, and secured improvement in working conditions, including promises to provide air conditioning in new delivery vehicles.

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Fuck it, sign me up.

Oh shit this is going to cut into the ceos yacht budget. What a fucking travesty!