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 ...
By early summer, I expect Las Vegas to have a 10k-to-15k job cut between a dozen casino/hotel operations.
More good news about Bidenomics?
Perhaps, but the driver pointed out it was next to a store he visited daily, so it was no extra work. And now, he will have to go to each house rather than a central drop box
But today’s news is the economy has millions of new openings and why we need more border jumpers.
$1 Billion with a B divided by 12,000 layoffs - 83K per. Isn’t that about 1/2 of what the union was calling the new annual wage for a driver?
“Well there’s a canary in the Biden Economic Utopia Coal mine.”
Yep, if you watch how freight is moving around the country, you’ll get a good idea on how well the economy is really doing.
In Michigan USPS workers and trucks deliver Amazon packages during off hours, including Sundays.
how could that be? the union said they were doing great and got them all a raise.
A postman (actually a lady) told me a few years ago that their small delivery trucks were being overwhelmed by packages, and she had to make multiple trips back to the post office to deliver a single day’s amount of arriving materials.
Amazon also now does site to site package delivery.
I wonder how much of this is due to Bidenomics and how much is due to losing market share to Bezos delivery services???
The Minnesota Democrats are investigating why the mail is not being delivered on time in Minnesota and part of North Dakota. The USPS got the contract to deliver Amazon packages and they are given priority over first class mail (and rates keep going up). I think an audit of part of the area had over 40,000 pieces up to a week late, and prior to that I think there was near 140,000 pieces in entire area either late or still stuck in a corner at post offices. At least 2 Dems are doing something worthwhile for a change, must be some gimmick in there.
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