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UPS to Cut 12,000 Jobs as Delivery Business Slows; Stock drops 8% this morning
WSJ ^ | 30 January 2024 | Esther Fung

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 ...


TOPICS: Business/Economy; Extended News; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: bigbrown; economy; freight; layoffs; shipping; stockmarket; ups; upsstock
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To: Runner4life

Well, they do! Anything goes out here in God’s Country. ;)


81 posted on 01/30/2024 9:26:33 AM PST by Diana in Wisconsin (I don't have, 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set. )
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To: NautiNurse

How did that petulant strike work out for them?


82 posted on 01/30/2024 9:30:40 AM PST by nonliberal (Z.)
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To: fireman15
I hate Amazon's politics, but there are good reasons why they are doing so well.

Amen !

83 posted on 01/30/2024 9:36:43 AM PST by tomkat
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To: tomkat

Just received a package from Amazon today. Joseph Conrad, “Heart of Darkness”. Nothing like a little light reading.


84 posted on 01/30/2024 10:02:30 AM PST by kawhill (kawhill)
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To: PUGACHEV

We have standard numbers on our mailbox painted on both sides by the company we bought the mailbox from.

Then, we have a standard number on our front door and back door ramp.

One of our adult sons put our standard single digit number on the sides of the curbs to our driveways.


85 posted on 01/30/2024 10:17:04 AM PST by Grampa Dave (Trust no one, who is not a proven and valued/trusty one or a family member or a long time friend! )
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To: Bon of Babble

Same here.

FedEx is more secure, and Amazon is cheaper for their in store stuff.


86 posted on 01/30/2024 10:19:29 AM PST by redgolum
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To: Yo-Yo

I know a lot of people who work for UPS. There is still a Christmas rush, but considerably far less than in prior years as Amazon has taken up more and more of their own deliveries and not utilizing UPS as much. They will deliver a lot of their own packages even if the person is not a “prime” customer.


87 posted on 01/30/2024 10:54:09 AM PST by Republican Wildcat
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To: bert

Our Walmart only allows pickup and no home delivery for most orders.

Often, we would get home and realize that our order was missing a few critical items. They didn’t tell us that those items were shorted from our order.


88 posted on 01/30/2024 11:22:36 AM PST by Grampa Dave (Trust no one, who is not a proven and valued/trusty one or a family member or a long time friend! )
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To: Bobalu

Mine just leaves a note to pick them up at the post office 30 minutes away.

Sometimes I go. Sometimes they get sent back to Amazon.

Sometimes Amazon delivery delivers things right to my door.


89 posted on 01/30/2024 11:50:37 AM PST by cableguymn
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To: Bon of Babble

My PO is getting Amazon orders that I place


90 posted on 01/30/2024 12:21:42 PM PST by Karoo
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To: Brian Griffin
I suspect union seniority is a major reason why Detroit became Destroyed.

Early forms of DEI hiring were a major reason nice cities got destroyed. It wasn't so much DEIs at work, but everything outside.

In elementary school, about in second and third grade, young Americans received lots of brainwashing. The classroom lights were turned off and a film projector ran. Some of the messages were: don't litter, don't smoke, nuclear power is good, communism is bad, pledge allegiance to the American flag. Thankfully, most of the brainwashing was conservative. These days, that's definitely not true.

The corporate media did a pretty good job of brainwashing against unions. Unions were consistently demonized over time, and our opinions against them were assigned. Now, it's not so clear unions were always the bad guys they were made out to be. MBA globalist spreadsheet-monkeys have been brutal to Americans, replacing whole professions with cheaper non-American imports.

91 posted on 01/30/2024 7:03:17 PM PST by Reeses
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To: Bon of Babble
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.

I also see a lot of USPS Priority Mail deliveries.

92 posted on 01/30/2024 7:14:11 PM PST by gitmo
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To: PUGACHEV; Bon of Babble; NautiNurse
My observation is the opposite: I see Amazon and UPS all the time, but rarely see FedEX.

Same here. We've recently moved to the South Carolina lowcountry, but the above was the same in my former Connecticut neighborhood as well.

Guess I've been awfully busy lately... I thought UPS was going gangbusters with everything being shipped everywhere these days. I'm surprised to hear about these UPS layoffs.

93 posted on 01/30/2024 10:47:29 PM PST by nutmeg (FJB)
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