United Parcel Service announced Wednesday that it is firing 12,000 salaried workers—14 percent of its worldwide managerial staff—as part of a $1 billion cost-cutting plan. The mass layoffs by the logistics giant, which will go into effect in the first half of this year, are part of an accelerating global wave of job-cutting in auto, technology and other industries.
In a conference call with investors, UPS CEO Carol B. Tomé boasted that her executive team had slashed the company’s worldwide workforce from 540,000, when “COVID demand peaked,” to 495,000 today. Even if volume increased, she said, the managers would not […]
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