Some Companies Strained By Spike In Demand Amid Coronavirus

Discussion in 'The Latest UPS Headlines' started by cheryl, Apr 5, 2020.

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  1. cheryl

    cheryl I started this. Staff Member

    Some Companies Strained By Spike In Demand Amid Coronavirus - Pymnts

    While Amazon is the beneficiary of a spike in new business as store closures move even more shopping online, the eCommerce giant told the WSJ it is spending hundreds of millions of dollars to hire additional workers and pay its existing workers more.

    And delivery companies like FedEx and United Parcel Service (UPS) Inc. are in the midst of the kind of boom in home deliveries that comes at Christmas, while shipments to businesses have slipped with most businesses closed. Delivering to homes is less profitable because drivers ferry fewer packages across many more stops, UPS told the paper.

    FedEx and UPS workers could face layoffs if the flow of packages continues to slow.

    Its union has told UPS workers that there could be job losses during the slump, the report said. Some of the FedEx Ground division’s contractors have already laid off delivery drivers.
     
  2. DriverNerd

    DriverNerd Active Member

    There are very few companies that will come out ahead in a recession. Especially one that will be this bad if we don't get the economy up and running soon.