UPS settleed a strike last year…
The joib cuts wouldn’t be to pay for the new contract?
UPS plans to cut 12,000 jobs as a part of a plan to save $1 billion in costs, executives said Tuesday.
The layoffs will eliminate around 2.4 percent of its global workforce of roughly 495,000, with about 75 percent of the job reductions coming in the first half of 2024. Executives said they don’t expect those jobs to return….
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The company’s business has suffered, logging revenue of $24.9 billion in the fourth quarter of 2023, down 7.8 percent from the same period the year before, with executives citing softer demand…
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Executives also pointed to higher labor costs. UPS last summer reached a new deal with the Teamsters that included raises of up to 55 percent over five years for certain workers….
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