UPS to cut 12,000 jobs after 'disappointing' year

Parcel delivery firm UPS has said it will cut 12,000 jobs, after it was hit by a softer economy and a labour fight that scared away some customers. Chief executive Carol Tomé said 2023 was a "Difficult and disappointing year", and the firm was investing in artificial intelligence as it pushes to become more efficient. UPS, whose business is seen as an indicator of wider economic health, struggled last year with a fall in sales and profits, as the number of packages handled by the firm declined. As part of that deal, the average full-time driver won a pay and benefits package worth about $170,000 a year. "Technology has changed so much in the past year when you think about the advent of generative AI and applications inside our business," she said.

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