Posted on 01/30/2024 7:18:30 AM PST by NautiNurse
United Parcel Service said Tuesday that it plans to cut about 12,000 jobs this year, a move that the package-delivery giant said would result in $1 billion in savings.
Most of the cuts will be to full-time and part-time management positions and contract workers, and executives said they don’t expect these jobs to return when parcel volumes return.
UPS has around 85,000 workers in management.
[Snip]
The job cuts were unveiled after the company said its revenue declined in the last quarter of 2023 as volumes in both its domestic and international businesses dropped.
(Excerpt) Read more at wsj.com ...
UPS Q4 Earnings Dragged By Lower Volume, Additional Charges; Stock Tumbles
Its just part of the soft landing...........
Seems like Amazon and FedEX have taken over a lot of the home delivery business - at least that’s what I see in my own neighborhood. Rare to see UPS.
Potentially ominous sign for the economy as a whole.
the Teamsters deliver a pay hike and the company delivers layoffs.
My observation is the opposite: I see Amazon and UPS all the time, but rarely see FedEX.
Is it me or do the UPS people look kind of sloppy lately?
It used to be that you could look at the cardboard and pallet companies and determine that a recession is coming. I guess UPS is the new pallet company.
I recently paid UPS $65 for a next-day letter envelope delivery. Not first delivery, no special services, guaranteed by next-day 9:00 PM. I can think of a whole lot of reasons not to do that again.
A lot of the Fed Ex trucks are independent contractors with a Fed Ex franchise. So, it is really dependent on where you are.
Amazon has developed a vertical integration the likes of which the world has not seen.
FedEx is on the ropes. I see Amazon and UPS all the time as well
Thank you, Teamsters, Union, and Bidenomics.
Amazon shifted from UPS to USPS for most of their shipping.
It’s about to wear out my mail carrier, he’s not used to all these packages.
I ordered a small mailbox for my porch so when I get boxes and also regular mail he won’t have to stop at the box by the road for envelopes and such and also put boxes on the porch, he can use the mailbox that will be on the porch.
Since USPS is carrying most Amazon packages maybe UPS just doesn’t need as large a workforce.
I paid $13.65 for a three day delivered envelope. It was comparable to USPS. But I expect it will actually be there in three days. LOL.
I heard this was coming a few months ago from I-Allegedly Dan on YouTube - guess he was right. He has people from inside corporations feeding him info all the time
It cant be Christmas all year long.
“UPS has around 85,000 workers in management.”
I think they found the problem...
Shipping has become expensive under Bidenomics but UPS rates have gone up the most.
How many of these 12,000 jobs were seasonal workers hired for the Christmas rush?
The layoffs are not seasonal workers.
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