United Parcel Service (UPS) shares were inactive in recent pre-market trade as the leadership of the Independent Pilots Association called on its members to authorize a pilot strike against the package delivery company.
The result of the strike vote will be announced on Oct. 23, the IPA said in a statement.
“A strike is the least desirable outcome of labor negotiations, but after four years of contract talks with UPS we’ve reached a point where UPS needs to hear loud and clear from our membership that they are willing to do whatever it takes to secure an industry leading contract,” IPA president Robert Travis said in a statement.
Travis said that while UPS has “stalled and delayed”, the company’s “archrival Federal Express recently announced a tentative agreement with its pilots. If ratified, the FedEx pilot deal will bring labor peace to our main competitor, given that the pilots are the only major employee group at FedEx covered by a collective bargaining agreement.”
The FedEx (FDX) pilot contract ratification vote is also slated to conclude in late-October.
UPS is trading in the lower half of the 52-week range between $93.64 and $114.40. FDX closed in the lower half of the 52-weeek range between $130.01 and $185.19 on Tuesday. Both stocks were inactive in recent pre-market trade.