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Tag: United Parcel Service

  • Fleet of UPS planes grounded after deadly crash expected to miss peak delivery season

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    A fleet of planes that UPS grounded after a deadly crash isn’t expected to be back in service during the peak holiday season due to inspections and possible repairs, the company said Wednesday in an internal memo.

    The airline expects it will be several months before its McDonnell Douglas MD-11 fleet returns to service as it works to meet Federal Aviation Administration guidelines, said the memo from UPS Airlines president Bill Moore to employees. The process was originally estimated to take weeks but is now expected to take several months.

    A fiery MD-11 plane crash on Nov. 4 in Louisville, Kentucky, killed 14 people and injured at least 23 when the left engine detached during takeoff. Cargo carriers grounded their McDonnell Douglas MD-11 fleets shortly after, ahead of a directive from the FAA.

    “Regarding the MD-11 fleet, Boeing’s ongoing evaluation shows that inspections and potential repairs will be more extensive than initially expected,” Moore wrote in the memo.

    A UPS spokesperson said in a statement that the company will rely on contingency plans to deliver for customers throughout the peak season, and it “will take the time needed to ensure that every aircraft is safe.”

    The 109 remaining MD-11 airliners, averaging more than 30 years old, are exclusively used to haul cargo for package delivery companies. MD-11s make up about 9% of the UPS airline fleet and 4% of the FedEx fleet.

    Boeing, which took over as the manufacturer of MD-11s since merging with McDonnell Douglas in 1997, said in a statement that it is “working diligently to provide instructions and technical support to operators” so that they can meet the FAA’s requirements.

    The FAA said Boeing will develop the procedures for inspections and any corrective actions, pending approval from the FAA.

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  • What’s open on Thanksgiving? Not much, as many stores rest or prepare ahead of Black Friday

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    WASHINGTON (AP) — With Thanksgiving and the formal launch of the holiday shopping season this week, Americans will again gather for Turkey Day meals before knocking off items on their Christmas gift lists.

    Most big U.S. retailers are closed on Thanksgiving Day. However, many will open early the following day, Black Friday, the unofficial start of the holiday gift-buying season and the biggest shopping day of the year.

    Here’s what is open and closed this Thanksgiving, along with a travel forecast from the experts at AAA auto club.

    Government Buildings

    Government offices, post offices, courts and schools are closed.

    Banks and the stock market

    U.S. stock markets and banks are closed Thursday; however, markets reopen on Friday for a shortened trading day, wrapping up at 1 p.m. Eastern.

    Package Delivery

    Standard FedEx and UPS pickup and delivery services will not be available on Thanksgiving, although some critical services will be offered at certain locations.

    Retailers

    Walmart will be closed on Thanksgiving but most stores will open at 6 a.m. local time on Black Friday.

    Target will be closed on Thanksgiving, but most stores will open at 6 a.m. local time on Black Friday.

    Macy’s will be closed on Thanksgiving, but most stores will have extended hours from 6 a.m. to 11 p.m. on Black Friday.

    Kohl’s will be closed on Thanksgiving, but many stores will be open as early as 5 a.m. on Black Friday. Check your local location for hours.

    Costco will be closed on Thanksgiving, but will reopen on Black Friday. Check your local store’s website for hours.

    CVS will close early on Thanksgiving. You can call your local store or check store and pharmacy hours on the CVS Pharmacy website.

    Walgreens will close most of its stores on Thanksgiving, though some 24-hour locations will be open. Check your local store for more information.

    Grocery Stores

    Most national grocery store chains are open on Thanksgiving for those last-minute turkey day needs, although many close early. Check your local store for details.

    Travel

    With most schools closed Thursday and Friday, the long Thanksgiving weekend is the busiest holiday travel period of the year, according to AAA.

    AAA projects that 81.8 million people will travel at least 50 miles from home over the Thanksgiving holiday period between Tuesday, Nov. 25 and Monday, Dec. 1. That’s 1.6 million more travelers compared to last Thanksgiving, which would be a new record.

    AAA estimates that at least 73 million people will travel by car, amounting to nearly 90% of Thanksgiving travelers. About 1.3 million more people will be on the road this year compared to last year, AAA predicts.

    Drivers are currently paying around $3 for a gallon of regular gasoline, according to AAA. Last year, the national average was $3.06 on Thanksgiving Day.

    According to AAA, 6 million U.S. travelers are expected to take domestic flights over the 7-day holiday period, a 2% increase over 2024. That figure could end up lower if flights are canceled or delayed.

    Travel by other modes is expected to increase by 8.5% to nearly 2.5 million people. Other forms of travel include bus, train, and cruise ships.

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  • Layoffs are piling up, raising worker anxiety. Here are some companies that have cut jobs recently

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    NEW YORK (AP) — It’s a tough time to be looking for a job.

    Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. That’s caused many to limit new work to only a few specific roles, if not pause openings entirely. At the same time, sizable layoffs have continued to pile up — raising worker anxieties across sectors.

    Some companies have pointed to rising operational costs spanning from President Donald Trump’s barrage of new tariffs and shifts in consumer spending. Others cite corporate restructuring more broadly — or, as seen with big names like Amazon, are redirecting money to artificial intelligence.

    Federal employees have encountered additional doses of uncertainty, impacting worker sentiment around the job market overall. Shortly after Trump returned to office at the start of the year, federal jobs were cut by the thousands. And the record 43-day government shutdown also left many to work without paychecks.

    The impasse put key economic data on hold, too. In a delayed report released Thursday, the Labor Department said U.S. employers added a surprising 119,000 jobs in September. But unemployment rose to 4.4% — and other troubling details emerged, including revisions showing the economy actually lost 4,000 jobs in August. There’s also growing gender and racial disparities. The National Women’s Law Center notes women only accounted for 21,000 of September’s added jobs — and that Black women over the age of 20, in particular, saw unemployment climb to 7.5% for the month.

    The shutdown has left holes in more recent hiring numbers. The government says it won’t release a full jobs report for October.

    Here are some of the largest job cuts announced recently:

    Verizon

    In November, Verizon began laying off more than 13,000 employees. In a staff memo announcing the cuts, CEO Dan Schulman said that the telecommunications giant needed to simplify operations and “reorient” the entire company.

    General Motors

    General Motors moved to lay off about 1,700 workers across manufacturing sites in Michigan and Ohio in late October, as the auto giant adjusts to slowing demand for electric vehicles. Hundreds of additional employees are reportedly slated for “temporary layoffs” at the start of next year.

    Paramount

    In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount plans to lay off about 2,000 employees — about 10% of its workforce. Paramount initiated roughly 1,000 of those layoffs in late October, according to a source familiar with the matter.

    In November, Paramount also announced plans to eliminate 1,600 positions as part of divestitures of Televisión Federal in Argentina and Chilevision in Chile. And the company said another 600 employees had chosen voluntary severance packages as part of a coming push to return to the office full-time.

    Amazon

    Amazon said last month that it will cut about 14,000 corporate jobs, close to 4% of its workforce, as the online retail giant ramps up spending on AI while trimming costs elsewhere. A letter to employees said most workers would be given 90 days to look for a new position internally.

    UPS

    United Parcel Service has disclosed about 48,000 job cuts this year as part of turnaround efforts, which arrive amid wider shifts in the company’s shipping outputs. UPS also closed daily operations at 93 leased and owned buildings during the first nine months of this year.

    Target

    Target in October moved to eliminate about 1,800 corporate positions, or about 8% of its corporate workforce globally. The retailer said the cuts were part of wider streamlining efforts.

    Nestlé

    In mid-October, Nestlé said it would be cutting 16,000 jobs globally — as part of wider cost cutting aimed at reviving its financial performance amid headwinds like rising commodity costs and U.S. imposed tariffs. The Swiss food giant said the layoffs would take place over the next two years.

    Lufthansa Group

    In September, Lufthansa Group said it would shed 4,000 jobs by 2030 — pointing to the adoption of artificial intelligence, digitalization and consolidating work among member airlines.

    Novo Nordisk

    Also in September, Danish pharmaceutical company Novo Nordisk said it would cut 9,000 jobs, about 11% of its workforce. The company — which makes drugs like Ozempic and Wegovy — said the layoffs were part of wider restructuring, as it works to sell more obesity and diabetes medications amid rising competition.

    ConocoPhillips

    Oil giant ConocoPhillips announced plans in September to lay off up to a quarter of its workforce, as part of broader efforts from the company to cut costs. Between 2,600 and 3,250 workers were expected to be impacted, with most layoffs set to take place before the end of 2025.

    Intel

    Intel has moved to shed thousands of jobs — with the struggling chipmaker working to revive its business. In July, CEO Lip-Bu Tan said Intel expected to end the year with 75,000 “core” workers, excluding subsidiaries, through layoffs and attrition. That’s down from 99,500 core employees reported the end of last year. The company previously announced a 15% workforce reduction.

    Microsoft

    In May, Microsoft began laying off about 6,000 workers across its workforce. And just months later, the tech giant said it would be cutting 9,000 positions — marking its biggest round of layoffs seen in more than two years. The company has cited “organizational changes,” but the labor reductions also arrive as the company spends heavily on AI.

    Procter & Gamble

    In June, Procter & Gamble said it would cut up to 7,000 jobs over the next two years, 6% of the company’s global workforce. The maker of Tide detergent and Pampers diapers said the cuts were part of a wider restructuring — also arriving amid tariff pressures.

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  • Verizon is cutting more than 13,000 jobs as it works to ‘reorient’ entire company

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    NEW YORK (AP) — Verizon is laying off more than 13,000 employees in mass job reductions that arrive as the telecommunications giant says it must “reorient” its entire company.

    The job cuts began on Thursday, per to a staff memo from Verizon CEO Dan Schulman. In the letter, which was seen by The Associated Press, Schulman said Verizon’s current cost structure “limits” the company’s ability to invest — pointing particularly to customer experiences.

    “We must reorient our entire company around delivering for and delighting our customers,” Schulman wrote. He added that the company needed to simplify its operations “to address the complexity and friction that slow us down and frustrate our customers.”

    Verizon had nearly 100,000 full-time employees as of the end of last year, according to securities filings. A spokesperson confirmed that the layoffs announced Thursday account for about 20% of the company’s management workforce, which isn’t unionized.

    Verizon has faced rising competition in both the wireless phone and home internet space — particularly from AT&T, T-Mobile and other big market players. New leadership at the company has stressed the need to right the company’s direction.

    Schulman became CEO just last month. In the company’s most recent earnings, he stated that Verizon’s trajectory was at a “critical inflection point” — and said, rather than incremental changes, Verizon would “aggressively transform” its operations.

    For its third quarter of 2025, Verizon posted earnings of $4.95 billion and $33.82 billion in revenue. The carrier reported continued subscriber growth for its prepaid wireless services, but it lost a net 7,000 postpaid connections.

    News of coming layoffs at Verizon was reported last week by The Wall Street Journal. The outlet says that the 13,000 job cuts mark the largest-ever round of layoffs at the company.

    Beyond the cuts across Verizon’s workforce, Schulman said that the New York company would also “significantly reduce” its outsourced and other outside labor expenses.

    It’s a tough time for the job market overall — and Verizon isn’t the only company to announce sizeable workforce reductions recently. More and more layoffs have piled up at companies like Amazon, UPS, Nestlé and more.

    Some companies have pointed to rising operational costs spanning from U.S. President Donald Trump’s barrage of new tariffs and shifts in consumer spending. Others cite corporate restructuring more broadly — or are redirecting money to artificial intelligence. Regardless, such cuts have raised worker anxieties across sectors.

    Schulman on Thursday recognized that “changes in technology and in the economy are impacting the workforce across all industries.” He said that Verizon had established a $20 million “Reskilling and Career Transition Fund” for workers departing the company.

    Shares of Verizon fell just over 1% by Thursday’s close.

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  • Layoffs are piling up, raising worker anxiety. Here are some companies that have cut jobs recently

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    NEW YORK (AP) — It’s a tough time for the job market.

    Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill. That’s caused many to limit new work to only a few specific roles, if not pause openings entirely. At the same time, some sizeable layoffs have continued to pile up — raising worker anxieties across sectors.

    Some companies have pointed to rising operational costs spanning from President Donald Trump’s barrage of new tariffs and shifts in consumer spending. Others cite corporate restructuring more broadly — or, as seen with big names like Amazon, are redirecting money to artificial intelligence.

    Federal employees have encountered additional doses of uncertainty, impacting worker sentiment around the job market overall. Shortly after Trump returned to office at the start of the year, federal jobs were cut by the thousands. And many workers are now going without pay as the U.S. government shutdown nears its fourth week.

    “A lot of people are looking around, scanning the job environment, scanning the opportunities that are available to them — whether it’s in the public or private sector,” said Jason Schloetzer, professor business administration at Georgetown University’s McDonough School. “And I think there’s a question mark around the long-term stability everywhere.”

    Government hiring data is on hold during the shutdown, but earlier this month a survey by payroll company ADP showed that the private sector lost 32,000 jobs in September.

    Here are some companies that have moved to cut jobs recently.

    General Motors

    General Motors moved to lay off about 1,700 workers across manufacturing sites in Michigan and Ohio on Wednesday, as the auto giant adjusts to slowing demand for electric vehicles.

    Hundreds of additional employees are reportedly slated for “temporary layoffs.” And GM has recently moved to downsize other parts of its workforce, too — including 200 layoffs mostly impacting engineers in Detroit, and other 300 job cuts at a Georgia IT Innovation Center, which it is also shuttering.

    Paramount

    In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount is going to lay off about 2,000 employees — about 10% of its workforce.

    Paramount initiated roughly 1,000 of those layoffs on Wednesday, according to a source familiar with the matter, who spoke on the condition of anonymity. The rest of the cuts will be made at a later date.

    Amazon

    Amazon will cut about 14,000 corporate jobs as the online retail giant ramps up spending on artificial intelligence.

    Amazon said Tuesday that it will cut about 14,000 corporate jobs, close to 4% of its workforce, as the online retail giant ramps up spending on AI while trimming costs elsewhere. A letter to employees said most workers would be given 90 days to look for a new position internally.

    CEO Andy Jassy previously said he anticipated generative AI would reduce Amazon’s corporate workforce in the coming years. And he has worked to aggressively cut costs overall since 2021.

    UPS

    United Parcel Service has disclosed about 48,000 job cuts this year as part of turnaround efforts, which arrive amid wider shifts in the company’s shipping outputs.

    In a Tuesday regulatory filing, UPS said it’s cut about 34,000 operational positions — and the company announced another 14,000 role reductions, mostly within management. Combined, that’s much higher than the roughly 20,000 cuts UPS forecast earlier this year.

    Target

    Last week, Target that it would eliminate about 1,800 corporate positions, or about 8% of its corporate workforce globally.

    Target said the cuts were part of wider streamlining efforts — with Chief Operating Officer Michael Fiddelke noting that “too many layers and overlapping work have slowed decisions.” The retailer is also looking to rebuild its customer base. Target reported flat or declining comparable sales in nine of the past eleven quarters.

    Nestlé

    In mid-October, Nestlé said it would be cutting 16,000 jobs globally — as part of wider cost cutting aimed at reviving its financial performance.

    The Swiss food giant said the layoffs would take place over the next two years. The cuts arrive as Nestlé and others face headwinds like rising commodity costs and U.S. imposed tariffs. The company announced price hikes over the summer to offset higher coffee and cocoa costs.

    Lufthansa Group

    In September, Lufthansa Group said it would shed 4,000 jobs by 2030 — pointing to the adoption of artificial intelligence, digitalization and consolidating work among member airlines.

    Most of the lost jobs would be in Germany, and the focus would be on administrative rather than operational roles, the company said. The layoff plans arrived even as the company reported strong demand for air travel and predicted stronger profits in years ahead.

    Novo Nordisk

    Also in September, Danish pharmaceutical company Novo Nordisk said it would cut 9,000 jobs, about 11% of its workforce.

    Novo Nordisk — which makes drugs like Ozempic and Wegovy — said the layoffs were part of wider restructuring as the company works to sell more obesity and diabetes medications amid rising competition.

    ConocoPhillips

    Oil giant ConocoPhillips has said it plans to lay off up to a quarter of its workforce, as part of broader efforts from the company to cut costs.

    A spokesperson for ConocoPhillips confirmed the layoffs on Sept. 3, noting that 20% to 25% of the company’s employees and contractors would be impacted worldwide. At the time, ConocoPhillips had a total headcount of about 13,000 — or between 2,600 and 3,250 workers. Most reductions were expected to take place before the end of 2025.

    Intel

    Intel has moved to shed thousands of jobs — with the struggling chipmaker working to revive its business as it lags behind rivals like Nvidia and Advanced Micro Devices.

    In a July memo to employees, CEO Lip-Bu Tan said Intel expected to end the year with 75,000 “core” workers, excluding subsidiaries, through layoffs and attrition. That’s down from 99,500 core employees reported the end of last year. The company previously announced a 15% workforce reduction.

    Microsoft

    In May, Microsoft began began laying off about 6,000 workers across its workforce. And just months later, the tech giant said it would be cutting 9,000 positions — marking its biggest round of layoffs seen in more than two years.

    The latest job cuts hit Microsoft’s Xbox video game business and other divisions. The company has cited “organizational changes,” with many executives characterizing the layoffs as part of a push to trim management layers. But the labor reductions also arrive as the company spends heavily on AI.

    Procter & Gamble

    In June, Procter & Gamble said it would cut up to 7,000 jobs over the next two years, 6% of the company’s global workforce.

    The maker of Tide detergent and Pampers diapers said the cuts were part of a wider restructuring — also arriving amid tariff pressures. In July, P&G said it would hike prices on about a quarter of its products due to the newly-imposed import taxes, although it’s since said it expects to take less of a hit than previously anticipated for the 2026 fiscal year.

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  • Meet the Suspicious 8: Dividends Over 6% With Plenty of Problems

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    Meet the Suspicious 8: Dividends Over 6% With Plenty of Problems

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  • Ontario Teachers Pension Plan Board Has $1.27 Million Stake in United Parcel Service, Inc. (NYSE:UPS)

    Ontario Teachers Pension Plan Board Has $1.27 Million Stake in United Parcel Service, Inc. (NYSE:UPS)

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    Ontario Teachers Pension Plan Board raised its holdings in United Parcel Service, Inc. (NYSE:UPS – Get Rating) by 216.6% in the third quarter, Holdings Channel reports. The fund owned 7,852 shares of the transportation company’s stock after acquiring an additional 5,372 shares during the period. Ontario Teachers Pension Plan Board’s holdings in United Parcel Service were worth $1,268,000 at the end of the most recent quarter.

    A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. S&T Bank PA grew its stake in United Parcel Service by 1.2% in the second quarter. S&T Bank PA now owns 4,300 shares of the transportation company’s stock valued at $785,000 after acquiring an additional 50 shares during the period. Navellier & Associates Inc. lifted its holdings in shares of United Parcel Service by 2.5% in the second quarter. Navellier & Associates Inc. now owns 2,211 shares of the transportation company’s stock valued at $404,000 after purchasing an additional 54 shares in the last quarter. Investment Partners LTD. lifted its holdings in shares of United Parcel Service by 3.0% in the second quarter. Investment Partners LTD. now owns 1,985 shares of the transportation company’s stock valued at $362,000 after purchasing an additional 57 shares in the last quarter. SkyOak Wealth LLC lifted its holdings in shares of United Parcel Service by 0.4% in the third quarter. SkyOak Wealth LLC now owns 13,547 shares of the transportation company’s stock valued at $2,188,000 after purchasing an additional 60 shares in the last quarter. Finally, Summit Asset Management LLC lifted its holdings in shares of United Parcel Service by 1.7% in the third quarter. Summit Asset Management LLC now owns 3,579 shares of the transportation company’s stock valued at $578,000 after purchasing an additional 60 shares in the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

    Wall Street Analysts Forecast Growth

    A number of analysts have recently commented on the company. Evercore ISI boosted their price target on United Parcel Service from $181.00 to $203.00 and gave the company an “in-line” rating in a report on Monday, December 19th. StockNews.com lowered United Parcel Service from a “buy” rating to a “hold” rating in a report on Wednesday, February 1st. Susquehanna Bancshares upped their target price on United Parcel Service from $160.00 to $165.00 in a report on Wednesday, October 26th. Raymond James dropped their target price on United Parcel Service from $210.00 to $207.00 and set a “strong-buy” rating on the stock in a report on Wednesday, February 1st. Finally, Cowen upped their target price on United Parcel Service from $187.00 to $195.00 and gave the stock a “market perform” rating in a report on Wednesday, February 1st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $195.48.

    United Parcel Service Trading Down 0.4 %

    NYSE:UPS opened at $183.21 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.39 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $158.46 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. The firm’s 50 day moving average is $180.81 and its 200 day moving average is $180.99. United Parcel Service, Inc. has a 12 month low of $154.87 and a 12 month high of $223.97.

    United Parcel Service (NYSE:UPS – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The transportation company reported $3.62 earnings per share for the quarter, beating analysts’ consensus estimates of $3.59 by $0.03. The business had revenue of $27 billion during the quarter, compared to analyst estimates of $28.03 billion. United Parcel Service had a net margin of 11.51% and a return on equity of 66.10%. United Parcel Service’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.59 EPS. Sell-side analysts expect that United Parcel Service, Inc. will post 11.59 earnings per share for the current year.

    United Parcel Service Increases Dividend

    The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Tuesday, February 21st will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 17th. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.52. This represents a $6.48 annualized dividend and a yield of 3.54%. United Parcel Service’s payout ratio is 46.06%.

    United Parcel Service announced that its board has authorized a stock repurchase program on Tuesday, January 31st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the transportation company to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

    United Parcel Service Profile

    (Get Rating)

    United Parcel Service, Inc operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing. The firm operates through the following segments: U.S.

    Further Reading

    Want to see what other hedge funds are holding UPS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United Parcel Service, Inc. (NYSE:UPS – Get Rating).

    Institutional Ownership by Quarter for United Parcel Service (NYSE:UPS)

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