UPS Cuts 12,000 Jobs

“Our members just ratified the most lucrative agreement the Teamsters have ever negotiated at UPS. This is the richest national contract I’ve seen in my more than 40 years of representing Teamsters at UPS. There are more gains in this contract than in any other UPS agreement and with no givebacks to the company.” — Teamsters General Secretary-Treasurer Fred Zuckerman, Teamsters website

Thank the Teamsters.

They got huge raises …. ” the most lucrative agreement the Teamsters have ever negotiated at UPS.” which led to massive layoffs.

UPS is cutting 12,000 jobs

By Chris Isidore, CNN

UPS announced Tuesday that it will cut 12,000 jobs as part of a bid to save $1 billion costs. Managers and contractor positions will make up most of the layoffs.

The job cuts come as UPS issued a disappointing sales outlook for this year, saying it expects global revenue of between $92 billion to $94.5 billion. That would be up from the $91 billion in revenue it reported for 2023, but analysts surveyed by Refinitiv had been expecting revenue of at least $95.6 billion.

UPS lost business last year as customers concerned about a possible strike by the Teamsters shifted shipments to rival carriers, such as FedEx. Although UPS said it expects to get most of that business back, it had won back only about 60% of that lost business…

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Pamela Geller

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