UPS profitable in Q4, 2008

Discussion in 'The Latest UPS Headlines' started by cheryl, Feb 3, 2009.

  1. cheryl

    cheryl I started this. Staff Member

    UPS profitable in Q4, 2008 - Atlanta Business Chronicle

    United Parcel Service Inc. showed profit and revenue growth in 2008, but shipping volume dropped with the recession and the company has had to cut some package handling operations, suspend its 401(k) match and put a freeze on management salaries.

    “The year will undoubtedly be one of the most difficult in UPS’ history,” said Kurt Kuehn, UPS chief financial officer. “Since economists do not expect any meaningful recovery until 2010, earnings in 2009 will suffer. Lower volume levels and reductions in package weight will put further pressure on margins. We anticipate the first quarter will be weak, with slight improvements later in the year as initiatives take hold.”
     
  2. TSG_1

    TSG_1 New Member

    So we make 803 million dollars and let's do cutbacks because it's the trendy thing to do right now :thumbsup: