Shares of United Parcel Service Inc. powered higher Tuesday, after the package-delivery giant reported third-quarter earnings that beat expectations by the widest margin in years and said it cut a lot more jobs than it previously said were planned.
The company disclosed that through September, it had reduced its workforce by 34,000 employees, which represented 6.9% of the approximately 490,000 employees it had at the end of 2024. UPS also closed 93 leased and owned buildings this year. The company had said it planned to cut 20,000 jobs and close dozens of buildings this year.
Recent Comments