UPS and Teamsters reach tentative agreement, averting strike

UPS and the Teamsters union have reached a tentative contract on working conditions for the 340,000 unionized employees at the shipping giant, both parties announced Tuesday.

The contract, if ratified, would avert a strike that was shaping up to be the biggest in 60 years.

"The overwhelmingly lucrative contract raises wages for all workers, creates more full-time jobs, and includes dozens of workplace protections and improvements," the Teamsters union announced on Twitter.