UPS Cutting Thousands Of Jobs, Including Ones In Texas

What can brown do for you? Some Texas employees could find out very soon as the major package delivery service cuts 12,000 jobs nationwide.

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The United Parcel Service (UPS) is delivering the layoffs just a few months after they came to a union deal with their workers. According to CNN Business, it is an attempt to save $1 billion in costs.

The company says that most of the layoffs will be in managerial or contractor positions. The job cuts come as the company's forecasted growth in 2024 looks bleak.

The Pandemic Caused A Big Spike In UPS Deliveries

During the pandemic, UPS was living the dream. People were staying at home and they had everything from toilet paper to standing desks delivered.

The company enjoyed sales of $100 billion for the first time in 2022. In 2023 we all started going back to work, so revenue fell 9%.

How Can They Expect Pandemic Delivery Numbers?

It's so strange to me that companies that did well in the pandemic still hope to make the same amount of money after the event is over.

They had already made deep cuts since they weren't doing as much business. UPS had 540,000 employees in 2022, and currently have 495,000 employees due to attrition and not hiring.

UPS Employees Unionizing Lost The Company Money In Two Ways

Included in that new employee number are more than 300,000 Teamsters' union members who recently got a 12.1% increase in union wages. UPS also lost money from customers who didn't want to risk their packages being late in a possible strike.