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UPS News

UPS executives look to speed up transformation – Marketwatch

United Parcel Service Inc. is ramping up a “transformation” plan to cut costs across the organization as the delivery firm responds to changes in how people shop and nontraditional competitors such as Amazon.com Inc.

UPS executives on Thursday spoke often of accelerating a review of the company’s operations after it reported its latest quarterly results. The company is now delivering a majority of packages to consumers, rather than businesses, in the U.S., a more expensive delivery since it means delivering fewer packages to more stops.

“The pace of change of business is accelerating so quickly,” Chief Executive David Abney said on the company’s first-quarter earnings call. “We feel like we had to respond with a sense of urgency.”

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UPS News

More parcels, higher prices lift UPS profit but costs soar – Reuters

United Parcel Service Inc (UPS.N) reported higher first-quarter net profit on Thursday, driven by strong package volumes in its core U.S. segment, but higher costs from Saturday delivery and nasty winter weather weighed on the bottom line.

Shares were up 2.2 percent in morning trade after the world’s largest package delivery company said revenue increased 10 percent to $17.1 billion in the first quarter from a year ago, topping analyst expectations of $16.47 billion.

Revenue at its core U.S. package service rose 7.2 percent to $10.2 billion from a year-ago, driven by a 4.6-percent rise in parcel volumes that reflected growth of online purchases.

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UPS Press Release

UPS Delivers 1Q 2018 EPS Of $1.55, Up 17%

  • International Revenue and Operating Profit Climb 15%
  • Average Daily Exports grew 12%, Led by Europe and U.S. Trade Lanes
  • Supply Chain & Freight Operating Profit up 14% on 16% Revenue Growth
  • U.S. Domestic Revenue Rises 7.2% on 4.6% Volume Growth
  • Weather Conditions Muted First Quarter U.S. Domestic Results  
  • Cash from Operations of $4.1B Resulted in Free Cash Flow* of $2.6B
  • Reaffirms Full-Year 2018 Adjusted EPS Guidance
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UPS Press Release

UPS Offers Voluntary Retirement Incentive To Eligible U.S.-Based Management Employees

UPS (NYSE: UPS) today announced further actions within the company’s organizational transformation initiatives. A select group of non-operations, retirement-eligible U.S. management employees were informed of their eligibility for participation in a special Voluntary Retirement Plan (VRP). Under the VRP, eligible employees will be offered a financial buyout to retire. The voluntary retirement program is designed to occur in phases to help maintain an orderly transition among those eligible to retire. The special VRP offer does not change the design, nor eligibility for, UPS retirement plans. This initiative will reduce headcount and lower on-going operating expense. The financial details of the voluntary program will be disclosed at a future date.

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UPS News

Change-of-address scam moved UPS corporate headquarters to tiny Rogers Park apartment, feds say – Chicago Tribune

The timeworn apartment building in Chicago’s Rogers Park neighborhood hardly looks like the corporate headquarters of one of the world’s largest shipping companies.

But for a few recent months, that’s essentially what it became — at least as far as the U.S. Postal Service was concerned.

Federal court papers unsealed last week revealed an astonishing but ultimately bungled scheme to file a change-of-address form claiming that shipping giant United Parcel Service had moved its headquarters from a bustling business park in Atlanta to a tiny garden apartment.

Not only did the change go through, but it also took months for anyone to catch on.