United Parcel Service Inc (UPS.N), the world's biggest courier company, said on Thursday it ratified a five-year contract with higher wages and benefits for 125,000 unionized employees represented by the International Brotherhood of Teamsters.
The company said it expected to take a pre-tax charge of about $1.05 billion in the second quarter due to the health and welfare changes in the newly-ratified plan. (link.reuters.com/kup78v)
The company reported a 12 percent fall in first-quarter profit earlier on Thursday.
(Reporting By Sampad Patnaik in Bangalore; Editing by Savio D'Souza)