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UPS offers severance deal to 650 workersWorld's largest package delivery company says the impact on financial results won't be clear until January.NEW YORK (CNNMoney.com) -- UPS, the world's largest package delivery company, said it has offered a severance package to 650 employees, according to a statement it released Tuesday. The packages are in addition to the 1,200 job reductions at the UPS Supply Chain Solutions that were announced in October.
The financial impact of the offers won't be known until the decision period is completed at the end of January 2007. The company will discuss the impact from the packages in its fourth-quarter earnings call on Jan. 30, 2007. Shares of UPS (Charts) closed Monday at $77.77 on the New York Stock Exchange. The company competes with FedEx (Charts) in the package delivery market. |
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