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Started By
Message
UPS to cut 12,000 jobs 5 months after reaching union deal
Posted on 1/30/24 at 10:31 am
Posted on 1/30/24 at 10:31 am
quote:
UPS will cut 12,000 jobs and released a revenue outlook for this year that sent its shares down sharply.
The company also hinted that its Coyote truck load brokerage business may be put up for sale. UPS acquired the Chicago-based company for $1.8 billion in 2015.
The Teamsters in September voted to approve a tentative contract agreement with UPS, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide. The contract includes pay raises for full- and part-time union workers, the creation of 7,500 full-time jobs and the filling of 22,500 open positions, allowing more part-timers to transition to full-time.
On a conference call Tuesday morning, CEO Carol Tome said that by reducing the company’s headcount UPS will realize $1 billion in cost savings. The job eliminations are anticipated to be among management roles and contractors, the company said.
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Posted on 1/30/24 at 10:35 am to RLDSC FAN
Delivered they arse straight to the unemployment line.
Posted on 1/30/24 at 10:37 am to Commandeaux
quote:
Delivered they arse straight to the unemployment line.
Ironic isn't it
Posted on 1/30/24 at 10:38 am to Commandeaux
quote:
Delivered they arse straight to the unemployment line.
Nope
quote:
The job eliminations are anticipated to be among management roles and contractors, the company said.
Posted on 1/30/24 at 10:39 am to RLDSC FAN
quote:
The company also hinted that its Coyote truck load brokerage business may be put up for sale.
What a stupid purchase by UPS.
Posted on 1/30/24 at 10:42 am to RLDSC FAN
quote:
The job eliminations are anticipated to be among management roles and contractors
The labor unions contract wins are on the backs of truly skilled and tenured employees usually. I'd bet my arse that Ford, Stelantis, and GM will do something similar especially after Ford wiped out half of their EV production.
Posted on 1/30/24 at 10:42 am to RLDSC FAN
quote:
sent its shares down sharply.
Is it time to buy?
Posted on 1/30/24 at 10:43 am to RLDSC FAN
dammit. i have a package out for delivery by them right now.
worst timing.
worst timing.
Posted on 1/30/24 at 10:47 am to RLDSC FAN
UPS owns a logistics company called "Coyote"?
Posted on 1/30/24 at 10:50 am to dkreller
quote:
Nope
Exactly. I'm anti-union as they come but this didn't do a god damned thing except hurt everyone not in a union who worked for UPS directly or under contract.
Funny how Unions were designed to save the livelihoods, and often lives, of working families. But they've (d)evolved into gluttonous predatory self-serving entities that continuously fight for more money and less work for its members and give the middle finger to everyone else.
Posted on 1/30/24 at 10:52 am to RLDSC FAN
Teamsters Business Agent: “Well we still got the contract signed, didn’t we? And I got paid. Sorry for all you other peons…”
Breaking news. Unions are only good for the union presidents. Shocker.
Breaking news. Unions are only good for the union presidents. Shocker.
Posted on 1/30/24 at 11:18 am to RLDSC FAN
quote:
UPS to cut 12,000 jobs
Gotta pay for those raises somehow. It always works like this when unions force raises. People lose jobs to cut costs and make up the difference.
This post was edited on 1/30/24 at 11:19 am
Posted on 1/30/24 at 11:18 am to Commandeaux
quote:know you trying to be clever butv the union guys won't be hurt. non union will be the cuts
Delivered they arse straight to the unemployment line.
Posted on 1/30/24 at 11:20 am to SidetrackSilvera
Coyote is a huge name in the brokerage industry
Posted on 1/30/24 at 11:29 am to Commandeaux
quote:
Delivered they arse straight to the unemployment line.
This isn't the gotcha you think it is.
Posted on 1/30/24 at 11:46 am to stout
quote:
Gotta pay for those raises somehow. It always works like this when unions force raises. People lose jobs to cut costs and make up the difference.
Because reducing profits isn't an option. Money over EVERYTHING right
Posted on 1/30/24 at 11:53 am to mindbreaker
(no message)
This post was edited on 3/13/24 at 11:35 am
Posted on 1/30/24 at 11:55 am to mindbreaker
quote:
Because reducing profits isn't an option.
They're not here to serve you.
Posted on 1/30/24 at 11:56 am to RLDSC FAN
Just like communism
no incentive to be a high performer because your neighbor is an underperformer and you both get equal benefit
no incentive to be a high performer because your neighbor is an underperformer and you both get equal benefit
This post was edited on 1/30/24 at 11:56 am
Posted on 1/30/24 at 11:56 am to Odysseus32
quote:
They have a fiduciary responsibility to never reduce profits
This is not correct.
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