UPS to cut 12,000 jobs as annual revenue forecast disappoints on weak ecommerce demand
United Parcel Service said on Tuesday it would cut 12,000 jobs and explore strategic options for Coyote, its truckload freight brokerage business, after the company forecast full-year 2024 revenue below estimates. The company’s shares recovered some lost ground and were last down 5.2% in premarket trading. “The small package market in the U.S., excluding Amazon … Read more