UPS is looking to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the amount of Amazon shipments it handles. The package delivery company said Tuesday that it anticipates making the job cuts this year. It anticipates closing 73 leased and owned buildings by the end of June.
UPS will cut 12,000 jobs and released a revenue outlook for this year that sent its shares down sharply. CEO Carol Tome said that the job cuts will produce $1 billion in cost savings.
Whether you're sending a bulky piece of furniture or a pair of earrings, shipping companies and delivery services are asking holiday gift givers to package their items and send them as soon as possible ahead of the Christmas Eve weekend.
UPS plans to hire more than 100,000 workers — at higher pay than a year ago — to help handle the holiday rush this season, in line with hiring the previous three years.
Bold union demands, bolstered by a tight labor market and frustration throughout the COVID-19 pandemic, are paying off in some sectors with significant raises for workers.
Bold union demands, bolstered by a tight labor market and frustration throughout the COVID-19 pandemic, are paying off in some sectors with significant raises for workers.
The Teamsters said that 86% of the votes casts were in favor of ratifying the national contract. They also said it was passed by the highest vote for a contract in the history of the Teamsters at UPS.
The Teamsters union reached a tentative deal with UPS, narrowly averting a nationwide strike. Rank-and-file union members are voting on whether to approve the contract.
Revenue declined at UPS in the second quarter and the package delivery company lowered its full-year revenue expectations by $4 billion, primarily due to a tentative labor contract reached late last month with its 340,000 unionized workers.
A tentative agreement between UPS and the Teamsters has averted a potential strike at the company. The deal will secure pay raises for part-time workers.
UPS has reached a contract agreement with its 340,000-person strong union Tuesday, averting a strike that had the potential to disrupt logistics nationwide for businesses and households alike.
As the deadline to reach a new contract nears, a potential UPS strike feels closer than ever. The Teamsters — which represent some 340,000 UPS workers — are calling for better pay, particularly for part-time workers, and safety improvements.
Unionized UPS workers voted overwhelmingly to authorize a strike on Friday, setting the stage for a potential work stoppage if the package delivery company and the Teamsters can't come to an agreement on a new contract.
