Bradley
๐ค SpeakerAppearances Over Time
Podcast Appearances
Let me take a look.
Well, what's interesting is UPS is saying that it's cutting the jobs.
And the CFO was on a conference call and identified that a good number of the jobs are coming to attrition.
In other words, when people resign or retire, they're not replacing those particular jobs as they consolidate responsibilities, number one.
Number two, they had voluntary separation packages in areas where they had overhired during COVID.
Remember during COVID, nobody drove to Costco to pick up stuff.
Nobody went to Target.
Those were all being delivered by UPS.
Remember that big boxes of stuff?
And so UPS radically expanded.
And if you were working for UPS,
And you were delivering, you were getting overtime hours, you were getting extra shifts on weekends if you wanted them, and they were hiring more people in sorting facilities and in the small vehicle deliveries because not everything is a giant brown truck for UPS.
Well, all of that happened then, Pat, and then it's all come back down to earth as over the last three years, people are back to driving their SUV to Costco and picking the stuff up themselves.
So they've said this is where their reduction is going.
but they also came back and announced that they were more profitable.
So for people that have a 401k UPS, there's UPS stock in the 401k.
Not only is that smart for the business, they're helping the people that are staying there.
Your point, investing in the people is dead on because they're helping people go, wait a minute,
Hey, our stock is up.
So it's in our 401k, right?