Breaking: UPS announces drastic job cuts after facing package volume decline and rising labor costs.
UPS, the shipping giant, made headlines with a surprising announcement of cutting 12000 jobs in 2024. The move comes after UPS reported more than a 7% decrease in daily package volume in its fourth-quarter earnings report. CEO Carol Tome mentioned that the job cuts are necessary to align resources and save nearly $1 billion for the company.
This decision by UPS comes just months after reaching a union deal, leaving many employees shocked by the sudden layoffs. The company cited soft demand and high labor costs as the main reasons behind the significant job cuts. UPS is set to eliminate positions primarily in management and contractor roles.
Affected UPS employees will receive severance packages and outplacement assistance. Despite the layoffs, UPS is optimistic about the future and expects the cost-saving measures to help the company navigate through challenging times.
In a challenging year for UPS in 2023, the company faced a sharp decline in package volumes and rising labor costs. The job cuts are expected to offset some of these challenges and save $1 billion for the company this year.
UPS reported more than a 7% decrease in daily package volume in its fourth quarter earnings report Tuesday morning.
UPS will cut 12000 jobs and released a revenue outlook for this year that sent its shares down sharply. CEO Carol Tome said that the job cuts will produce ...
UPS is eliminating 12000 jobs in an effort to align resources in 2024 and will save the company nearly $1 billion, the shipping company's CEO said.
UPS announced Tuesday that it will cut 12000 jobs as part of a bid to save $1 billion costs. Managers and contractor positions will make up most of the ...
The shipping giant UPS is cutting more than 2 percent of its workforce after reporting a decline in fourth-quarter revenue.
UPS announced that it will cut 12,000 jobs in 2024. CEO Carol Tomé is seeking to offset high labor costs and low package demand.
All affected employees will receive severance packages and outplacement assistance. Why is UPS cutting 12,000 jobs? A UPS delivery truck. UPS Director of ...
UPS will cut 12000 jobs and released a revenue outlook for this year that sent its shares down sharply.
After what the company called a “difficult and disappointing” 2023, UPS said the cuts would save $1 billion this year.