Recent updates reveal that the
United Parcel Service Inc (UPS) released its
4Q 2023 Earnings which surpassed estimates, leading to a hike in dividends. Job cuts estimated at around
12,000 follow due to weak parcel demand and an aggressive cost-cutting strategy that includes closing at least
200 facilities. Though investors' returns have been favorable over the last
five years, Q2 showed a shortfall in the company's expected performance. Recent labor tensions were averted with a new contract approval, saving a strike that could have been the costliest in a century. However, UPS has started training
non-union employees and a potential strike looms ahead. Meanwhile, UPS drivers' salary negotiations reached a successful conclusion with wages of up to
$170,000 in the new union deal. In terms of strategic decisions, UPS
acquired Bomi Group, a multinational healthcare logistics provider, and opened a new warehouse with significant automation. There are concerns about accusations of racism and discrimination against female workers, thus highlighting a need for improvements in company culture.
United Parcel Service Class B UPS News Analytics from Sun, 09 Jun 1985 07:00:00 GMT to Wed, 01 May 2024 07:00:00 GMT -
Rating 5
- Innovation 0
- Information 8
- Rumor -2
