UPS extends deadline for van drivers to apply for buyout package after initial target not met. Teamsters union criticizes program, with UPS giving drivers until Aug. 14 to take the buyout. CEO Carol Tomé notes high interest, but no specifics on sign-ups. Most likely candidates have 25-40 years of service, with $1,800 per year payout.

Unclear if job-reduction target delay will affect separation dates. Applicants may be considered for separation dates between Aug. 31 and Oct. 31, with additional applications possibly considered for dates between Feb. 1 and March 31. Financial package includes retirement benefits. Teamsters union opposes buyout plan, citing violation of 2023 contract.

Union argues buyout violates contract terms, including creation of 30,000 full-time jobs. Any changes to employment terms must be negotiated with the union. Seniority order for buyouts requires union approval. UPS has not provided update on number of sign-ups or if package is oversubscribed.

Read more at Yahoo Finance: UPS extends buyout offer deadline after low driver interest