UPS Corp. UPS stock is down 2.7% in premarket trades on Wednesday after the UPS Teamsters National Negotiating Committee said the company provided an “unacceptable” offer in contract talks for about 340,000 employees. The Teamsters Union said UPS “walked away from the bargaining table” after presenting the offer. UPS said, “We have not walked away, and the union has a responsibility to remain at the table,” according to a statement from the company. “We’re proud of our offer,” UPS said. “It delivers wins for our people. The Teamsters should return to the table to finalize this deal.” The Teamsters union said its negotiating committee rejected the offer on the new contract, as the July 31 expiration date of the existing contract looms.
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