UPS Dumping 12-Thousand Workers

FILE – A United Parcel Service truck is parked on a street, in New York, Thursday, May 11, 2023. Shares of UPS are falling before the market open on Tuesday, Jan. 30, 2024, as the package delivery company gave a weaker-than-expected full-year revenue forecast. (AP Photo/Richard Drew, File) used locally Jan 30th 2024 @ap.images

UPS is laying off 12-thousand employees.

Why?

Because earnings fell short of revenue estimates.

And UPS has seen a drop in international and domestic shipping volume.

On a company earnings call, CEO Carol Tome said the layoffs will save the company around one-billion-dollars in costs.

In 2023, UPS made headlines when news was reported that some tenured rank and file UPS workers such as truck drivers were making comfortable 6-figure salaries.

@ap.images