UPS Plans Management Buyouts in Bid to Trim Payroll Costs

United Parcel Service  (UPS) – Get Report is planning to offer buyouts to some of its management-level employees in a bid to trim costs, even as the delivery giant continues to rake in revenue amid the coronavirus pandemic and shift to online ordering and delivery. The Atlanta-based company is expected to […]

United Parcel Service  (UPS) – Get Report is planning to offer buyouts to some of its management-level employees in a bid to trim costs, even as the delivery giant continues to rake in revenue amid the coronavirus pandemic and shift to online ordering and delivery.

The Atlanta-based company is expected to present the buyouts to qualifying management in non-operations roles on Friday, according to reports. The workers would leave in two phases: by the end of 2020, and mid-2021.

“UPS is providing voluntary severance offers to some employees as part of its transformation,” a spokesman confirmed to Dow Jones. “Aligning our talent with the needs of our company and customers is critical to becoming a stronger, more agile UPS.”

Demand for shipping services from UPS has surged since the coronavirus pandemic struck, as shoppers stayed home and bought more products online – and a reduction in international passenger flights boosted demand for UPS’s air network.

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