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Started By
Message
re: UPS to cut 12,000 jobs 5 months after reaching union deal
Posted on 1/30/24 at 3:08 pm to mindbreaker
Posted on 1/30/24 at 3:08 pm to mindbreaker
quote:
Money over EVERYTHING right
Fiduciary responsibility to shareholders.
This post was edited on 1/30/24 at 3:11 pm
1
Posted on 1/30/24 at 3:11 pm to SEC. 593
quote:
The fiduciary responsibility is to act in the best interest of the Shareholders, which doesn't mean to never reduce profits.
Correct.
Investments can reduce short term profits in effort to maximize long term gains, as one example.
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 3:14 pm to mikelbr
quote:
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.
It is a net gain of 18,000 new employees who presumable have families. Most of those 18,000 new employees probably are among the 12,000 contract employees who will now be full time employees of the company that is paying their salary. I get it that pisses some folks off but it is a win win for everyone involved including UPS who seems pretty satisfied by all accounts.
Posted on 1/30/24 at 3:17 pm to Giantkiller
quote:
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.
Again, they swapped 12,000 non-union jobs for 30,000 union jobs. 22,500 open positions. Most of those 12,000 will go back to work in their same job with the caveat that the money their company was being paid for them to work for UPS will now be paid directly to them. Again, I know that pisses off miserable people who like the idea of folks being miserable but the folks actually involved, including the company and the laid off individuals, are fricking jumping for joy.
Posted on 1/30/24 at 3:24 pm to LSU316
quote:
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.
bingo
Posted on 1/30/24 at 3:37 pm to DVinBR
why is it communism to hope that companies actually give a shite about its workers?
Posted on 1/30/24 at 3:59 pm to AwgustaDawg
quote:
Again, they swapped 12,000 non-union jobs for 30,000 union jobs. 22,500 open positions. Most of those 12,000 will go back to work in their same job with the caveat that the money their company was being paid for them to work for UPS will now be paid directly to them. Again, I know that pisses off miserable people who like the idea of folks being miserable but the folks actually involved, including the company and the laid off individuals, are fricking jumping for joy.
Don't let the numbers fool you. When UPS talks about "the creation of 7,500.00 full time job", they are just combining 15,000 part time jobs to create those jobs. Revenue is directly related to package volume and the effect of the last CBA hasn't fully kicked in yet. UPS just increased rates 5 weeks ago. That can only hurt volume. And BTW - 80-90% of the jobs being cut will be union jobs. Been there, done that as a Teamster and as a UPS manager.
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 4:10 pm to idlewatcher
Actually, while unfortunate, it was in fact utterly predictable.
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 7:43 pm to SoFla Tideroller
quote:yes they are
Unions are so beneficial to the rank and file, aren't they, kids?
Posted on 1/30/24 at 7:51 pm to mindbreaker
quote:
Money over EVERYTHING right
Someone has never taken a business class...
Posted on 1/30/24 at 8:02 pm to 6R12
quote:
You love to see them screw themselves. Trusting the union "higher ups" will always mess you over. It's a game, a bad game.
Listen to this smug a-hole that didn't even bother to read that they weren't cutting union jobs
Posted on 1/30/24 at 8:31 pm to mindbreaker
quote:
Because reducing profits isn't an option. Money over EVERYTHING right
I know people who think like this and make similar statements. They're 13 and 14 years old right now.
This post was edited on 1/30/24 at 8:32 pm
Posted on 1/30/24 at 9:16 pm to AwgustaDawg
quote:
Again, they swapped 12,000 non-union jobs for 30,000 union jobs. 22,500 open positions. Most of those 12,000 will go back to work in their same job with the caveat that the money their company was being paid for them to work for UPS will now be paid directly to them. Again, I know that pisses off miserable people who like the idea of folks being miserable but the folks actually involved, including the company and the laid off individuals, are fricking jumping for joy.
You don't know what you are posting.
How do I know?
UPS is saving $1B dollars with this transition.
Your post does not equate to $1B cost savings.
Posted on 1/30/24 at 10:07 pm to Giantkiller
quote:
Breaking news. Unions are only good for the union presidents. Shocker.
And the DNC.
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?
Posted on 1/30/24 at 10:52 pm to Corinthians420
quote:
Listen to this smug a-hole that didn't even bother to read that they weren't cutting union jobs
Don't put a scripture as your name and then call people a-hole. Kinda outs you.
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