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UPS announced it will cut 12,000 jobs this year amid a slowdown in delivery volume, making up some 2.4% of its more than 500,000 global workforce. A UPS spokesperson confirmed that the job cuts would not impact union-represented roles. Jobs throughout the world and in all functions would be affected at the company, and 75% of the reductions would come in the first half of the year, the spokesperson said. The company reported during a company earnings call Tuesday that the daily average shipping volume is down 7.4 percent domestically, and there's been an 8.3 percent decrease in domestic shipping. UPS announced its fourth quarter revenue was $24.9 billion, down 7.8 percent from $27 billion the year before. UPS says that the cut could save the company $1 billion, citing the softer demand and higher union labor costs. Amid the declining revenue and job cuts, the company also reported returning $7.6 billion to shareholders through dividends and stock buybacks. UPS CEO Carol Tomé said

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