<strong> </strong>UPS plans to reduce its workforce by some 12,000 employees, the shipping giant announced on its fourth quarter earnings call Tuesday after it fell short of expectations at the end of last year.

<div class="image-embed__placeholder"><img src="https://specials-images.forbesimg.com/imageserve/65b903d31db696cc77d79218/UPS/960x0.jpg?fit=scale" alt="UPS" width="100%" height="auto"></div><figcaption><fbs-accordion><p class="color-body light-text">Reducing the workforce will save the shipping giant about $1 billion. </p></fbs-accordion><small>AP/LM Otero</small></figcaption>

 <div class="key-facts-element"> <p>The reduction in employees will save the company about $1 billion, CEO Carol Tomé said on the Tuesday company earnings call, <a href="https://www.bloomberg.com/news/articles/2024-01-30/ups-to-cut-12-000-jobs-bring-workers-in-five-days-a-week?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_source=twitter" target="_blank" class="color-link" title="https://www.bloomberg.com/news/articles/2024-01-30/ups-to-cut-12-000-jobs-bring-workers-in-five-days-a-week?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_source=twitter" rel="nofollow noopener noreferrer" data-ga-track="ExternalLink:https://www.bloomberg.com/news/articles/2024-01-30/ups-to-cut-12-000-jobs-bring-workers-in-five-days-a-week?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_source=twitter" aria-label="according to">according to</a> multiple <a href="https://www.cnbc.com/2024/01/30/ups-reports-drop-in-package-volume-stock-tumbles.html" target="_blank" class="color-link" title="https://www.cnbc.com/2024/01/30/ups-reports-drop-in-package-volume-stock-tumbles.html" rel="nofollow noopener noreferrer" data-ga-track="ExternalLink:https://www.cnbc.com/2024/01/30/ups-reports-drop-in-package-volume-stock-tumbles.html" aria-label="reports">reports</a>.</p>  </div> <div class="key-facts-element"> <p><em>This is a breaking story and will be updated. </em></p>  </div>


<a href="https://www.bloomberg.com/news/articles/2024-01-30/ups-to-cut-12-000-jobs-bring-workers-in-five-days-a-week?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_source=twitter" target="_blank" class="color-link" title="https://www.bloomberg.com/news/articles/2024-01-30/ups-to-cut-12-000-jobs-bring-workers-in-five-days-a-week?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_source=twitter" rel="nofollow noopener noreferrer" data-ga-track="ExternalLink:https://www.bloomberg.com/news/articles/2024-01-30/ups-to-cut-12-000-jobs-bring-workers-in-five-days-a-week?utm_medium=social&amp;utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_content=business&amp;utm_source=twitter" aria-label="UPS to Cut 12,000 Jobs, Bring Workers in Five Days a Week">UPS to Cut 12,000 Jobs, Bring Workers in Five Days a Week</a> (Bloomberg)

Reducing the workforce will save the shipping giant about $1 billion. 
{ai:summary}<p>UPS plans to cut 12,000 jobs to save $1 billion after a disappointing fourth quarter.  #economy</p>

UPS Will Lay Off 12,000 Following Rough Earnings Report

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