UPS will cut 12,000 jobs and released a revenue outlook for this year that sent its shares down sharply at the opening bell. The Teamsters in September voted to approve a tentative contract agreement with UPS, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide. On a conference call Tuesday morning, CEO Carol Tome said that by reducing the company's headcount UPS will realize $1 billion in cost savings.