UPS reaches deal with Teamsters union to avoid massive strike

• UPS on Tuesday made a tentative agreement with the Teamsters union, avoiding a humongous strike.
• The union represents about 340,000 UPS package handlers and delivery drivers. 
• A strike would have had dramatic economic effects, experts said. 

UPS on Tuesday reached a tentative agreement with the Teamsters union, avoiding a massive strike by its roughly 340,000 unionized workers, which could have had broad economic effects.

"This agreement continues to reward UPS's full- and part-time employees with industry-leading pay and benefits while retaining the flexibility we need to stay competitive, serve our customers and keep our business strong," UPS CEO Carol Tomé said in a press release.