UPS delivery service will cut 12 thousand employees – Kommersant
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American delivery service UPS reported about plans to cut 12 thousand employees this year. The company estimates that these measures will help it reduce costs by about $1 billion. The total number of UPS employees worldwide is about 500 thousand, so the reduction will affect 2.5%.
“2023 was a unique, challenging and disappointing year,” UPS Chief Executive Officer Carole Thomé said at a press conference following the publication of fourth-quarter and full-year 2023 financial statements. “We experienced declines in both turnover, revenue and operating profit. “
In the fourth quarter, the company received total revenue of $24.92 billion, while analysts polled by LSEG expected $25.43 billion. Net income was $1.61 billion, while a year earlier it was twice as much – $3.45 billion. The company’s shares fell 8%.
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