UPS Cutting 12,000 Jobs

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  • The Associated Press
  • UPS slid before the opening bell Tuesday as the package delivery company announced that it’s eliminating approximately 12,000 jobs and looking at strategic options for its Coyote truck load brokerage business.Last year union members at UPS voted to approve a tentative contract agreement, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide.
On a conference call Tuesday morning, CEO Carol Tome said that by reducing the company’s headcount UPS will realize $1 billion in cost savings.
“We are going to fit our organization to our strategy and align our resources against what’s wildly important,” Tome said.
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David DeMarco