UPS union calls off strike threat after securing pay raises for workers

UPS drivers had threatened to walk off the job unless the company provided better pay for part-time workers. (Justin Sullivan/Getty Images)

The Teamsters union said it has secured pay raises for United Parcel Service workers, averting what would have been one of the largest strikes in U.S. history.

"UPS has put $30 billion in new money on the table as a direct result of these negotiations," Teamsters general president Sean O'Brien said in a statement. "This contract sets a new standard in the labor movement and raises the bar for all workers."