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UPS to offer buyouts to some employees

·1 min read
FILE PHOTO: The company logo for United Parcel Service (UPS), is displayed on a screen at the NYSE in New York
FILE PHOTO: The company logo for United Parcel Service (UPS), is displayed on a screen at the NYSE in New York

(Reuters) - United Parcel Service Inc <UPS.N> said on Thursday it was offering buyouts to some employees, as Chief Executive Carol Tomé aims to curb costs at the delivery firm.

"Aligning our talent with the needs of our company and customers is critical to becoming a stronger, more agile UPS," a company spokesperson said in a statement.

The Wall Street Journal had earlier reported https://www.wsj.com/articles/ups-offering-buyouts-to-management-workers-11600378920?mod=searchresults&page=1&pos=1 workers would leave in two phases - by the end of 2020 and mid-2021.

UPS said last week it would hire more than 100,000 workers for the winter holiday season, as delivery networks are taxed by pandemic-fueled online shopping.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Krishna Chandra Eluri)