Posted on 01/30/2024 9:46:57 AM PST by ChicagoConservative27
UPS fell short of Wall Street revenue estimates Tuesday, reporting drops in shipping volume, both internationally and domestically, in its fourth-quarter earnings report. The company also announced 12,000 layoffs as part of an effort to align resources in 2024.
The workforce reductions will save the company about $1 billion in costs, CEO Carol Tomé said on a company earnings call.
“2023 was a unique, and quite candidly, difficult and disappointing year. We experienced declines in volume, revenue and operating profits and all three of our business segments,” Tomé said.
Shares of the package giant dipped 8% in early trading.
(Excerpt) Read more at cnbc.com ...
Many of them UPS drivers vote Democrat without giving it much thought.
ANY!!!!!!!!!!!
Well there’s a canary in the Biden Economic Utopia Coal mine
The economy is great!.....................It’s on fire!........................It’s the best economy in 50 years!......................
Amazon drones are tasking over?
Amazon drones are taking over?
What can Brown do for you?....................😁
The union went into this fight committed to winning for our members. We demanded the best contract in the history of UPS, and we got it,â said Teamsters General President Sean M. O'Brien. âÂÂUPS has put $30 billion in new money on the table as a direct result of these negotiations.Jul 25, 2023Action, reaction.
I wonder how much the higher pay deal with the unions had to do with this.
UPS isn’t needed anymore since Amazon has their own delivery trucks.
I’ve noticed UPS shipped packages having final delivery by USPS.
Amazon now controls 40% of all ecommerce, which is an utterly staggering number when you think of the size of the ecommerce industry.
UPS drivers are all TEAMSTERS. It is a pretty high paying job.
However, you need to move your butt.
If you notice most of the drivers are men in good shape. They get up and down out of that truck hundreds of times/day.
Didn’t FedEx also cut some staff/drivers recently?
This may be indicative of the economic slowdown that has been predicted for about a year now.
UPS took out the local drop boxes here today. As part of the cost cutting measures according to the driver that told me. Not sure how that cuts costs?
FedEx is eating their lunch. They are too damn expensive for the small business and ebay slash etsy seller.
The specific drop box is question did not yield enough drops to be justified
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