Loading ...Just Months After “Massive Labor Deal,” UPS Announces Massive Layoffs
Five months after unionized UPS workers ratified a massive five-year labor deal that included massive pay bumps (read: here), the logistics company announced on Tuesday morning that 12,000 jobs, or about 14% of its 85,000 management jobs, would be cut.
Chief Executive Officer Carol Tomé was quoted on an earnings call by Bloomberg as saying job reductions were due to sliding package demand and soaring union labor costs. She said the layoffs would save the company about $1 billion this year.
The good news is the Union negotiated a MASSIVE raise…YAY
The bad news is…………. You’re Fired