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UPS Announces Job Cuts

January 30th, 2024 by WCBC Radio

The Epoch Times along with other news outlets is reporting that The United Parcel Service (UPS) on Tuesday announced 12,000 job cuts after reporting a decline in the volume of packages being shipped, coming months after the company came to an agreement with a top union to pay drivers higher wages.

Officials with the shipping firm confirmed to several news outlets the number of job cuts, saying they represent fewer than 3 percent of the firm’s overall worldwide workforce. The cuts also do not impact union-backed employees.  The job cuts will save the firm about $1 billion, the company’s CEO, Carole Tome, told reporters.