Source: www.reuters.com

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(Reuters) - The Teamsters Union, representing about 340,000 U.S. workers at UPS, said on Tuesday it has reached a tentative five-year deal with the parcel delivery firm.

“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”, UPS CEO Carol Tomé said in a statement.

Shares of the world’s largest parcel delivery firm were up 2.3% in afternoon trading.

Reporting by Priyamvada C in Bengaluru; Editing by Shailesh Kuber