Delivery company UPS announced on Tuesday that it plans to cut close to 12 thousand jobs this year.
- According to the Associated Press, CEO Carol Tomé shared in a company call that the cuts would save UPS $1 billion in costs.
- UPS recently reported a decrease in revenue during the last three months of 2023 due to a decrease in demand in the U.S. and internationally.
- “2023 was a unique and difficult year and through it all we remained focused on controlling what we could control, stayed on strategy and strengthened our foundation for future growth,” Tomé said in the call.
- UPS joins other major companies such as Google, Meta, Amazon, and more in announcing beginning-of-the-year layoffs.