United Parcel Service (NYSE:UPS) will reportedly offer its union drivers a severance offer as part of the company’s “network reconfiguration." The package offered through its “Driver Voluntary Severance Plan” is in addition to any retirement benefits,

"Our members cannot be bought off and we will not allow them to be sold out," Teamsters General President Sean M. O'Brien said in a statement. "The Teamsters are prepared to fight UPS on every front with every available resource to shut down this illegal buyout program."

The parcel giant said it will offer voluntary buyouts to its full-time drivers as part of the largest company restructuring in its history.