UPS to lay off 12,000 workers 5 months after agreeing to massive pay raise with union, stock price plummets
united parcel service announced On Tuesday, the company announced it would lay off 12,000 workers, just five months after it celebrated agreeing to a big union-negotiated pay increase for its drivers. “We’re aligning our organization to our strategy and aligning our resources to what’s really important,” CEO Carol Thome said on a conference call. He […]
MN man dressed as a UPS worker and fatally shot 3 people in their home after a robbery turned sour, prosecutors say
A Minnesota man is accused of killing three people after breaking into a home wearing a UPS uniform.What was supposed to be a robbery suddenly turned deadly, according to NBC News. Alonzo Mingo, 37, was charged with three counts of second-degree murder. The complaint filed in Anoka County, Minnesota, says authorities do not believe the […]
Stocks making the biggest moves midday: BAC, GM, UPS, MPC – CNBC
Check out the companies that are trending in intraday trading. General Motors — General Motors stock rose 8% after the company beat Wall Street’s sales and bottom line expectations and provided strong guidance for 2024. The company reported adjusted earnings of $1.24 per share on revenue of $42.98 billion for the fourth quarter of 2023. […]
UPS Cutting 12K Jobs, Citing Higher Costs
United Parcel Service (UPS) employees walk a “picket line practice” ahead of a possible UPS strike in Queens, New York, July 7, 2023. The Teamsters union, which represents more than 300,000 UPS drivers and warehouse workers, announced on July 5 that UPS workers have until the end of July to strike after labor negotiations with […]
UPS to cut 12,000 jobs as delivery demand slows
UPS announced plans to cut 12,000 jobs this year due to weak shipping volumes, a plan the shipping giant says will save the company $1 billion. The company announced at its financial results conference on Tuesday that average daily domestic shipments decreased by 7.4% and domestic shipments decreased by 8.3%. UPS announced fourth-quarter sales of […]