UPS Announces Voluntary Retirement Plan Results

Discussion in 'UPS Partners' started by ROBO MOD, Jul 24, 2018.

  1. ROBO MOD

    ROBO MOD I'm a Robot Staff Member

    UPS (NYSE:UPS) announced today the results of its Voluntary Retirement Plan (VRP) introduced on April 25, 2018. Under the VRP, a select group of U.S. based, retirement-eligible employees were offered a financial buyout to retire.

    Participants in the plan will depart on a staggered schedule over the next twelve months to maintain business continuity. The company does not expect significant savings in 2018 from the VRP, full savings from the program will be realized upon completion after the second quarter 2019. UPS recorded a pre-tax transformation charge of $263 million in the second quarter, due primarily to VRP severance expense. This initiative will reduce UPS headcount and lower ongoing staffing expense. At full run rate, the initiative will generate annual savings of around $200 million.

    The VRP program is one of a number of initiatives under the company’s transformation strategy. UPS is streamlining work processes through technology for greater staff efficiency as well as enhancing customer service and profitable growth opportunities with its strategies. These initiatives will also create new opportunities for UPS employees and strengthen shareowner returns.

    Additionally, UPS will present details regarding the company’s multi-year plans at a Transformation Conference in New York on September 13, 2018. Registration is open on the UPS Investor Relations website. The event will be webcast live, and available for replay.
     
  2. Catatonic

    Catatonic Nine Lives

    Copied from UPS Pressroom for consumption in Partners Forum.

    Enjoy
     
  3. Necropostophiliac

    Necropostophiliac Well-Known Member

    Stepping Over Dollars To Pick Up Pennies.

    200 Million savings for many "partners" lives to be altered.

    As a mafia hit-man says as he pulls the trigger to the back of
    a partners head, sorry, it's strictly business.
     
  4. Glenlake55Wally

    Glenlake55Wally New Member

    A83C67AE-0866-419E-8AB9-182FD2A402E1.gif Meanwhile at the Management Committe meeting...
     
  5. Casca

    Casca Member

    UPS vs FDX stock prices.......How did FDX stock go from 40 dollars a share 12 10 1999 to 241 a share 07 26 2018 ....UPS was 66 a share 12 03 1999 to 118 a share 07 26 2018 ?........Is FDX that much of a better run company ?....is it a difference of a non-union company vs a largely union company ? Is the FDX culture that much stronger than UPS culture ?...FDX founder Fred S is at their helm while UPS founder Jim C passed away in the 1980s ......These are serious questions and I have read that UPS stock holders will be soon rewarded.....The question is when.....Results are what matter....If results aren't forthcoming the BOD must be replaced with people who can do the job and get positive results .
     
  6. Old Man Jingles

    Old Man Jingles Rat out of a cage

    Dividends
     
  7. DieHardUPSER

    DieHardUPSER Member

    Looking at only stock price is not the right thing to do. You should consider the dividends, increase in dividends, market cap, number of shares, stability of the market, exposure to global events(FEDEX relies more heavily on international and thus will take a bigger hit if the tariff wars continue to increase). That being said the increase in UPS stock has been disappointing.
     
  8. FrigidFTSup

    FrigidFTSup Resident Suit

    It's about time to get rid some of the dead weight in this company. We need a massive culture change, and too many of the decision makers are so far removed from the daily operations they don't have a clue what they're talking about.

    I always love when a district manager who hasn't been on car since 1987 would tell me what should be happening. Okay jackass, your guys were delivering 75 stops on a heavy day back then. Same geographic area is 575 stops now.
     
  9. FrigidFTSup

    FrigidFTSup Resident Suit

    Share price is meaningless in that context.
     
  10. trickpony1

    trickpony1 Well-Known Member

    You should respect your superiors.
    There's a reason they are there and you're not.

    (sarcasm).
     
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  11. FrigidFTSup

    FrigidFTSup Resident Suit

    Mostly because they had their noses up someone’s behind
     
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