UPS Raises 4Q EPS View, Plans To Cut US Jobs In Streamlining - Wall Street Journal
UPS raised its earnings guidance to 73 cents to 75 cents a share, up from its October view for 58 cents to 65 cents.
The company also said it would reduce the number of districts by more than half and regions to three from five in its U.S. small package operation, saying it would take advantage of technology and the management strengths of its people to compensate.
The restructuring would eliminate about 1,800 management and administrative positions across the country. UPS expects normal attrition to reduce some of the blow and said approximately 1,100 employees will be offered voluntary separation packages. The company has some 425,000 employees.
UPS raised its earnings guidance to 73 cents to 75 cents a share, up from its October view for 58 cents to 65 cents.
The company also said it would reduce the number of districts by more than half and regions to three from five in its U.S. small package operation, saying it would take advantage of technology and the management strengths of its people to compensate.
The restructuring would eliminate about 1,800 management and administrative positions across the country. UPS expects normal attrition to reduce some of the blow and said approximately 1,100 employees will be offered voluntary separation packages. The company has some 425,000 employees.
