United Parcel Service Inc. plans to cut 12,000 jobs and explore the sale of its Coyote truck brokerage business in moves Chief Executive Officer Carol Tomé is taking to offset soft demand and higher union labor costs.
United Parcel Service Inc. plans to cut 12,000 jobs and explore the sale of its Coyote truck brokerage business in moves Chief Executive Officer Carol Tomé is taking to offset soft demand and higher union labor costs.
(Bloomberg) United Parcel Service Inc. tumbled after the courier posted fourth-quarter sales below analysts’ estimates and provided 2024 guidance that missed expectations as higher labor costs and lower package demand crimps profit. Most Read from BloombergMusk Says First Neuralink Patient Received Implant in BrainTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump Cash Stockpile at Risk From $450 Million