UPS is cutting 12,000 jobs as CEO cites soft demand and high labor costs following historic contract deal – By Jordan Hart (Business Insider) / Jan 30, 2024
- UPS announced that it will cut 12,000 jobs in 2024.
- CEO Carol Tomé is seeking to offset high labor costs and low package demand.
- UPS drivers in 2023 struck a deal for an eventual pay bump up to $170,000 in total compensation.
The job cuts in 2024 are continuing.
UPS is set to reduce its headcount by 12,000 jobs in 2024 following a historic pay agreement with its drivers.
UPS CEO Carol Tomé cited soft demand and the recent labor contract as reasons for missing analysts’ expectations on a Tuesday earnings call. The subsequent moves are a part of the company’s “fit to serve” initiative, and Tomé said it will save UPS $1 billion in 2024.
CONTINUE > https://www.businessinsider.com/ups-layoffs-ceo-soft-demand-high-labor-costs-2024-1
[pro_ad_display_adzone id="404"]
