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Started By
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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 10:39 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 10:52 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 11:56 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 12:15 pm to RLDSC FAN
Wait, you mean to tell me paying drivers 170k isn’t sustainable when Amazon just contracts out to the lowest bidder for their delivery drivers?
Posted on 1/30/24 at 1:39 pm to RLDSC FAN
Ups about to go the way of usps with all the management and support staff about to get shite canned.
Posted on 1/30/24 at 2:39 pm to RLDSC FAN
I retired from there in 2000 and AFAIK they always brought hourly up through the ranks to be CEO. I think Carol she may be an outside brought in for CEO. What a massive failure she is. I think she is going run the company into the ditch.
I just hope employees didn't upgrade houses and other things based on their raise.
I just hope employees didn't upgrade houses and other things based on their raise.
Posted on 1/30/24 at 3:03 pm to RLDSC FAN
The problem is they aren’t getting that Amazon volume anymore. That hurts. If amazon starts delivering 3p parcels, UPS in big heap trouble.
Posted on 1/30/24 at 3:12 pm to RLDSC FAN
quote:
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.
I fully understand the desire some have to see other people in misery but the Teamsters AND the company seem to be in agreement here...creating 7500 full time positions and filling 22,500 open positions while simultaneously cutting 12,000 management and contractor positions. 30,000 new employees versus 12000 managers and contractor personnel. Sounds likes the Union got what it wanted and the company is fine with it....but of course people with no dog in the fight at all are happy as hell thinking 12,000 union members are going to be out of work (they ain't, in fact 30,000 new positions will be mostly union members).
Posted on 1/30/24 at 4:05 pm to RLDSC FAN
quote:
The job eliminations are anticipated to be among management roles and contractors, the company said.
Who could have predicted this???
Posted on 1/30/24 at 4:22 pm to RLDSC FAN
Unions are so beneficial to the rank and file, aren't they, kids?
Posted on 1/30/24 at 7:20 pm to RLDSC FAN
You love to see them screw themselves. Trusting the union "higher ups" will always mess you over. It's a game, a bad game.
Posted on 1/30/24 at 10:46 pm to RLDSC FAN
Is there ever a group of these union guys that point out to the rest of them that 5-15% will be laid off to offset this raises given to us?
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