UPS is cutting 12,000 jobs ...Middle East

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UPS is cutting 12,000 jobs
source : Bloomberg News Today ( Middle East ) () 18
New York (CNN) — UPS announced Tuesday that it will cut 12,000 jobs as part of a bid to save $1 billion costs. Managers and contractor positions will make up most of the layoffs. The job cuts come as UPS issued a disappointing sales outlook for this year, saying it expects global revenue of between $92 billion to $94.5 billion. That would be up from the $91 billion in revenue it reported for 2023, but analysts surveyed by Refinitiv had been expecting revenue of at least $95.6 billion. UPS lost business last year as customers concerned about a possible strike by the Teamsters shifted shipments to rival carriers, such as FedEx. Although UPS said it expects to

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