World’s largest package delivery service to cut 1,800 jobs
Saturday, January 9, 2010
United Parcel Service (UPS), the world’s largest package delivery service, has announced that it will cut 1,800 administrative and managerial jobs.
The firm, based in Atlanta, Georgia, is to reorganise its five regions into three, and slash the number of districts to twenty from 46, in addition to the job cuts. The company currently has 340,000 people in its employ.
Economic analysts are paying considerable attention to the financial status of UPS, as many see a large connection between the overall state of the US economy and the amount of parcels shipped.
“They’re not cutting sales jobs, they’re cutting back office jobs. They take out back office, they take out cost,” commented Helane Becker, an analyst for Jesup & Lamont Securities.