UPS International Express will lay off 12,000 employees, and the truck business will be sold!

Shares in UPS, the world's largest delivery company, dropped 6.3 percent after reporting full-year revenue fell short of market expectations, and announced it would cut 12,000 jobs and consider selling its truck-freight brokerage business, Coyote.

UPS says it plans to cut costs by $1bn, including about 12,000 employees, in response to a decline in traffic, revenue and operating profit across all its business units last year.

CEO Carol Tome said in a conference call with analysts that UPS does not expect business conditions to improve until the second half of 2024. UPS is exploring strategic options for Coyote, its truck freight brokerage business, including selling, merging or retaining.

Coyote, acquired by UPS in 2015 for $1.8 billion, mainly provides intermediary services for freight companies and carriers. However, due to the fierce market competition, Coyote's performance was not satisfactory, and its revenue dropped by 14.5% in the fourth quarter of last year.

"In the U.S., the small parcel market is only expected to grow by less than 1 percent, apart from Amazon," Tome said.In the fourth quarter, UPS's air freight international business revenue fell 6.9 percent, while its truck U.S. business revenue fell 7.3 percent. The company reported quarterly revenue of $24.9 billion, down from $27 billion in the same period last year and below analysts' estimates of $25.43 billion. 

UPS国际快递裁员1.2万，卡车业务或将出售！

       全球最大的快递公司联合包裹服务公司(UPS)近日发布了的财报，不仅全年收入低于市场预期，还宣布将裁员1.2万人，并考虑出售其卡车货运经纪业务Coyote。消息一出，UPS的股价应声下跌了6.3%。

       UPS表示，去年所有业务部门的运量、收入和营业利润都出现了下滑。为了应对这一局面，UPS计划削减10亿美元的成本，包括裁减约1.2万名员工。

       首席执行官Carol Tome在与分析师的电话会议上说，UPS预计，业务状况要到2024年下半年才会有所改善。UPS正在探索其卡车货运经纪业务Coyote的战略选择，包括出售、合并或保留。

       Coyote是UPS在2015年以18亿美元收购的，主要为货运公司和承运商提供中介服务。但由于市场竞争激烈，Coyote的业绩并不理想，去年第四季度的收入下降了14.5%。

       Tome说：“在美国，除了亚马逊之外，小包裹市场预计只会增长不到1%。”在第四季度，UPS的空运国际业务收入下降了6.9%，其卡车美国业务收入下降了7.3%。该公司报告的季度收入为249亿美元，低于去年同期的270亿美元，也低于分析师估计的254.3亿美元。