Chasing Value: No layoffs at United Parcel

Discussion in 'The Latest UPS Headlines' started by cheryl, Jan 6, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    Chasing Value: No layoffs at United Parcel - Blogging Stocks

    In a recent post Chasing Value: United Parcel -- forgotten blue chip I praised United Parcel Service (NYSE: UPS) and included a comment about something my UPS carrier had said to me about the company laying off 10% of the local carriers.

    While receiving a positive response for the post from Mr. Michael French of UPS, he went on to correct me and wrote "I wanted to make sure that you are aware that no layoffs have been announced, and that makes the statement in your blog about a layoff of 10 percent of our drivers inaccurate."

    I questioned my carrier in more detail and he did in fact confirm that there was no formal layoff announced, only that there were discussions locally about cutting back the forces and he was cavalier in saying it might be as much as 10%. Given the opportunity to recant he speculated the layoffs might be 3% to 4% and the exact number has not been determined.