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• United Parcel Service Inc. will pay more to its seasonal workers this year.
• Candidates for seasonal positions are not usually required to sit an interview.
• UPS stock is currently down more than 20% versus its year-to-date high.

United Parcel Service Inc (NYSE: UPS) just announced plans to hire over 100,000 seasonal workers to prepare for the holiday demand.
 

UPS workers will be paid higher this year

The transportation giant will pay $21 an hour to driver helpers and package handlers and $23 an hour to delivery and tractor-trailer drivers, as per its spokesperson.

UPS had hired a similar number ahead of the holiday season in 2022 as well but at a starting pay of $15.50 per hour and $21 per hour, respectively. The higher pay this year is because of the labour agreement the company signed with Teamsters last month.

On Tuesday, the New York listed firm said it was hiring for both part-time and full-time positions – and even has a few permanent positions available as well.

Its shares are currently down more than 20% versus their year-to-date high.
 

Seasonal positions do not require an interview

UPS also said in an announcement today that candidates for close to 80% of its seasonal positions are not required to sit an interview. According to Nando Cesarone – the Executive Vice President of United Parcel Service:

 

We’re proud to offering industry-leading pay … We’re looking forward this holiday season to helping thousands of workers kick off their UPS careers.

In August, the logistics company trimmed its full-year guidance citing business lost due to the prolonged negotiations with Teamsters and higher-than-expected labour costs.

Wall street currently rates UPS at “overweight”. Last week, its peer Amazon.com Inc also revealed plans of hiring 250,000 new workers ahead of the holiday season (find out more).

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