UPS Package Volume Drops 7.4% in ‘Difficult and Disappointing' 2023

UPS is cutting jobs and considering selling one of its businesses as shipping volumes decline.The shipping giant will eliminate 12,000 positions — chiefly full-time and part-time management roles and contract workers — in a bid to save $1,000,000, the company said during an earnings call Tuesday (Jan. 30).“2023 was a unique and, quite candidly, difficult and disappointing year,” said UPS CEO Carole Tomé. “We experienced declines in volume, revenue and operating profit and all three of our business segments. ...