Categories
UPS News

Credit Suisse “Outright Positive” on UPS for First Time in Five Years – The Street

For the first time in five years UPS analysts at Credit Suisse are “outright positive” on shares of UPS, causing them to upgrade shares to Outperform from Neutral on Monday, while slapping a street high $192 price target on shares.

Analysts at Credit Suisse attributed their bullishness to several catalysts, including cost-cutting measures. The Swiss investment bank forecasts that capital expenditures will take a steep dip from a “multi-year high,” which may open the door to other “significant opportunities to reduce capital intensity.” And with domestic pricing power shifting “towards the carriers,” coupled with a new CEO in Carol Tomé, Credit Suisse is confident in UPS’s ability to achieve “FCF conversion of close to 100% over the next few years, with ROIC returning to previous peak levels by 2022.”

Categories
UPS News

Quick-thinking UPS driver saves houses from wildfire – Heraldnet

The driver earned praise for his actions from the West Thurston Fire Authority’s captain.

A beloved Thurston County UPS driver is being called a hero after he made an impromptu stop on his route in the Littlerock area last week to assist households caught up in the Bordeaux fire.

Don Gagnon has been an adored figure by colleagues and citizens on his delivery route for some time, said West Thurston Fire Authority Captain Lanette Dyer.

“This is a guy that has been around for a long time, that knows everyone’s address, that knows everyone, always has a quick smile on his face, never has a bad day, never has anything negative to say about anything or anyone, just truly a positive, genuine person,” Dyer said of Gagnon.

Categories
UPS News

2 UPS workers stole $30,000 worth of items from Stafford-area facility, sheriff’s office says – ABC13

Two UPS workers are accused of stealing thousands of dollars worth of items meant to be delivered from a UPS facility in the Stafford area.

According to the Fort Bend County Sheriff’s Office, 39-year-old Jarray Hunt of Stafford and 31-year-old Christian Nunez of Sugar Land were arrested on Wednesday and charged with third degree felony theft.

The investigation began after the UPS Security Division contacted the sheriff’s office.

Categories
UPS News

UPS offering buyouts to management workers – Fox Business

UPS last offered buyouts to workers in 2018, an initiative that cut about $200 million in annual expenses.

United Parcel Servce is planning to offer buyouts to some management employees, according to a person familiar with the matter, as Chief Executive Carol Tomé aims to trim payroll costs at the delivery giant.

The Atlanta-based company is expected to present the buyouts to qualifying management in non-operations roles on Friday, the person said. The workers would leave in two phases: by the end of 2020, and mid-2021, the person said.

A spokesman for the company confirmed it was offering buyouts, but declined to say who was eligible and how many jobs UPS was looking to shed.

Categories
UPS News

UPS to offer buyouts to some employees – CNBC

United Parcel Service said on Thursday it was offering buyouts to some employees, as Chief Executive Carol Tomé aims to curb costs at the delivery firm.

“Aligning our talent with the needs of our company and customers is critical to becoming a stronger, more agile UPS,” a company spokesperson said in a statement.

The Wall Street Journal had earlier reported workers would leave in two phases – by the end of 2020 and mid-2021.