UPS can absolutely afford to keep all their workers and pay the $15/hour if minimum wage was raised. The company always operates in the black and the only reason why the corporation does the nickel and dime on all its part-time workers is because of corporate greed and to fulfill the satisfaction of our stock holders. UPS should have never went public in my opinion because now the goals they pass down are so ridiculous. The company wants to grow too fast over a short period of time, so in addition to the cr@ppy wage that is offered to desperate workers loading trucks and doing the dirty work, the company dangles tuition credit to lure the young workers, and decent medical benefits for the older crowd who has to take on a second job to get benefits or just to keep up with the economy. Meanwhile, corporate suits are lining up their pockets with bonuses that came from the hard work and sweat of people doing the real work. And then they have the nerve to take away more and more from each contract negotiation with the teamsters.
Lets do the math and see that an extra $3/hour is more than feasible.
# of US employees as of 2014: 354,000 (not all of these workers work for the measly wages in a HUB but lets use the whole number just for fun.
354,000 x $3 = $1.06 million/hour
$1.06 million x 40 hours = $42.48 million/week
$42.48 million x 52 weeks =
$2.20 billion per year extra expense for UPS.
2014 Net Income = $3.03 billion
UPS would still have close to $1 billion AFTER all expenses are paid. It would probably be a lot more because like I said, we used the 354,000 employees statistic which is an incredible over estimation of workers that would get the $3/hour raise.
Anyway, my point is that our union needs to negotiate better terms for the warehouse workers because UPS can definitely afford to share the wealth!
*Sources:
http://www.marketwatch.com/investing/stock/ups/financials
http://www.ups.com/content/us/en/about/facts/worldwide.html