UPS and the Teamsters union on July 25 reached a tentative five-year collective bargaining agreement that covers more than 340,000 workers, the company and the union announced in separate statements. The deal, which must now be ratified by the rank-and-file membership, staved off the possibility of a nationwide strike. A work stoppage by UPS workers threatened to wreak havoc on the economy. The union had voted to strike if a new contract wasn’t in place by the July 31 end date of the most recent agreement.

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