UPS to Cut 1,800 Jobs, Says Profit Exceeds Forecast

Discussion in 'The Latest UPS Headlines' started by cheryl, Jan 9, 2010.

  1. cheryl

    cheryl I started this. Staff Member

    UPS to Cut 1,800 Jobs, Says Profit Exceeds Forecast - Bloomberg

    United Parcel Service Inc., the world’s largest package-delivery company, plans to cut 1,800 jobs as it shrinks management at a U.S. unit and said fourth- quarter earnings exceeded its forecast.

    Profit will be 73 cents to 75 cents a share, more than an October projection of as much as 65 cents, Atlanta-based UPS said today in a statement. Analysts expected 63 cents, the average of 18 estimates compiled by Bloomberg. UPS jumped the most since March.

    UPS said it will reduce the number of U.S. operating districts to 20 from 46 to streamline management of its small- package unit. The changes reflect UPS’s attempts to halt seven straight quarters of volume declines in its largest division, which generates about two-thirds of revenue, and compete with FedEx Corp. for new business as the economy improves.
     
  2. brownsince76

    brownsince76 New Member

    I was hoping the buy-out would get down to me,but, It looks like I will have to put in my last 3 years
     
  3. co-chair

    co-chair New Member

    What kind of compansation was offered and how much?I know UPS has a formula for everything????????????????????????????
     
  4. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Why is that any of your business??????????????????????????????????????????
     
  5. ups79

    ups79 Active Member

    Are you the only one that can ask a question or make a statement? Every where I look you are "irked" by someone question. Maybe the rest of us can be locked out and you can do all the posting.
     
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Good point.

    I just felt that asking someone to reveal the details of a severance package may be just a tad too personal.

    Maybe that's just me.