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UPS Cuts 48,000 Jobs in Management and Operations
WSJ - Gift LinkUnited Parcel Service has cut 48,000 management and operations positions, the company disclosed Tuesday when it reported earnings.
Of those roles, 14,000 were management positions and 34,000 were jobs in operations. The reductions came through layoffs and buyouts, the company said.
The job cuts were greater than the shipper announced in April when it said it would cut about 20,000 operational jobs. In January 2024, UPS said it planned to cut about 12,000 management jobs.
“We keep finding opportunities for us to bring costs down,” Chief Executive Carol Tomé said. “We are positioned to run the most efficient peak in our history.”
Tomé has been under pressure to reverse a long slump in the company’s stock price. The pressure stems particularly from employees and retirees, who have an outsize say under the company’s unique shareholder structure, The Wall Street Journal previously reported.
Of those roles, 14,000 were management positions and 34,000 were jobs in operations. The reductions came through layoffs and buyouts, the company said.
The job cuts were greater than the shipper announced in April when it said it would cut about 20,000 operational jobs. In January 2024, UPS said it planned to cut about 12,000 management jobs.
“We keep finding opportunities for us to bring costs down,” Chief Executive Carol Tomé said. “We are positioned to run the most efficient peak in our history.”
Tomé has been under pressure to reverse a long slump in the company’s stock price. The pressure stems particularly from employees and retirees, who have an outsize say under the company’s unique shareholder structure, The Wall Street Journal previously reported.
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