Friday, January 08, 2010

UPS Plans to Cut 1,800 Jobs

"UPS said it would cut 1,800 staff in the U.S., with a one-time charge offset by savings in its domestic small-package unit. The Atlanta-based company said the cuts were part of a long-planned management restructuring, rather than a reaction to the slow economy. It trimmed about 13,000 U.S. jobs last year, mostly through attrition, in response to the recession and a steep downturn in package volume."

Nice spin UPS. Yet another company trying to boost earnings through cost containment measures of cutting labor cost. I have been saying for some time that it's all about jobs. You can not grow the economy (GDP) without creating jobs. Period. No jobs, no income. No income results in no consumption and a negative drag on GDP. It really is that simple.

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