UPS announced it will cut approximately 12‚000 jobs in an effort to save $1 billion in costs. According to CNBC‚ CEO Carol Tomé announced the workforce cuts on a company earnings call. The company fell short in fourth-quarter revenue as domestic and international shipping declined. “2023 was a unique‚ and quite candidly‚ difficult and disappointing year. We experienced declines in volume‚ revenue and operating profits and all three of our business segments‚” Tomé said‚ according to CNBC. WATCH: The world's largest parcel delivery company‚ UPS plans to cut 12‚000 jobs in a move the company said will help save it $1 billion after a 'difficult and disappointing' year https://t.co/LC0SZsAfkc pic.twitter.com/TbmPZZVMeH — Reuters (@Reuters) January 31‚ 2024 CNBC reports: For the last three months of 2023‚ UPS reported net income of $1.61 billion‚ or $1.87 per share‚ compared with $3.45 billion‚ or $3.96 per share‚ a year earlier. Adjusting for one-time items related to pensions and intangible assets‚ UPS earned $2.47 per share. Revenue declined 7.8% to $24.9 billion from $27 billion last year. The company reported a 7.4% drop in average daily volume domestically and an 8.3% decrease internationally. Tomé said the international softness was “heavily weighted” in Europe‚ coupled with freight complications in the Red Sea region‚ as well as the Panama and Suez canals. Though the earnings report did not directly mention any financial impacts from negotiations with the Teamsters in August over labor contracts‚ Tomé cited the talks and the macroeconomic environment more broadly as contributing to the “disappointing” year. DC Draino cited the union deal UPS employees struck in 2023‚ which would give drivers $170‚000 in pay and benefits. How it started: UPS drivers to make $170‚000 in pay and benefits following Union deal How it’s going: UPS to slash 12‚000 jobs after increased labor costs A tale as old as time pic.twitter.com/uV1RdmpOYT — DC_Draino (@DC_Draino) January 30‚ 2024 From CBS News: UPS drivers will earn an average of $170‚000 in annual pay and benefits at the end of a five-year contract agreement‚ UPS CEO Carol Tomé said during an earnings call this week. The executive’s comments punctuated the end of a weekslong struggle between UPS and the Teamsters Union which negotiated with the carrier last month to avert a strike and secure a new contract for 340‚000 union employees. More than 70% of UPS’ 443‚000 employees are represented by the Teamsters’ Union‚ the company’s website shows. “We expected negotiations with the Teamsters to be late and loud‚ and they were‚” Tomé said during the call. As a result‚ UPS slashed its full-year revenue forecasts “primarily to reflect the volume impact from labor negotiations and the costs associated with the tentative agreement‚” she added. The deal‚ which was reached on July 25‚ will increase full-time workers’ compensation to $170‚000 from roughly $145‚000 over five years‚ according to UPS’ calculations. It will also boost part-time workers’ salaries to at least $25.75 per hour‚ and end mandatory overtime‚ Tomé told investors on Tuesday. Online searches for jobs with “UPS” or “United Parcel Service” in the title jumped 50% in the week after the new pay deal was announced‚ Bloomberg News reported‚ citing data from Indeed. UPS to lay off 12‚000 just months after accepting a new union contract paying deliverymen $170‚000 per year. Unions killing jobs https://t.co/DbFcZhpGJQ — Peter St Onge‚ Ph.D. (@profstonge) January 30‚ 2024 CNN Business noted managers and contractor positions make up the majority of layoffs. Per CNN Business: The job cuts come as UPS issued a disappointing sales outlook for this year‚ saying it expects global revenue of between $92 billion to $94.5 billion. That would be up from the $91 billion in revenue it reported for 2023‚ but analysts surveyed by Refinitiv had been expecting revenue of at least $95.6 billion. UPS lost business last year as customers concerned about a possible strike by the Teamsters shifted shipments to rival carriers‚ such as FedEx. Although UPS said it expects to get most of that business back‚ it had won back only about 60% of that lost business. UPS’ business surged to record levels in the first three years of the pandemic‚ as online shopping exploded. The company’s sales topped $100 billion for the first time in 2022. The fact that revenue in 2023 fell more than 9% and won’t top that benchmark again in the near future is “candidly difficult and disappointing‚” said CEO Carol Tome on a conference call with investors Tuesday. “Some of this performance was due to the macro environment and some due to disruptions associated with our labor contract negotiations as well as higher costs associated with the new contract‚” she said.

A statewide anti-human trafficking operation in California resulted in over 500 arrests and dozens of rescued victims. Los Angeles County Sheriff Robert Luna announced the results of the operation that included the Los Angeles Police Department and the Los Angeles County Sheriff’s Department. Operation Reclaim and Rebuild led to 539 arrests and 65 total rescued victims. The rescued victims included 54 adults and 11 juveniles. WATCH: LOS ANGELES (KABC) — “Hidden In Plain Sight All Across California Are Human Traffickers &; Their Victims” In an ONLY 3 DAY Human-Trafficking Sting in California Leads to 339 Arrests Nearly 50 victims were rescued. More than a dozen of them were children. pic.twitter.com/WpDjFnImpr — Wall Street Apes (@WallStreetApes) July 26‚ 2023 KABC reports: The 10th annual Operation Reclaim and Rebuild‚ which was conducted last week‚ involved more than 95 federal‚ state and local agencies‚ including personnel from the Los Angeles Regional Human Trafficking Task Force. During a press conference Tuesday morning‚ Los Angeles County Sheriff Robert Luna said authorities made 539 arrests‚ including 40 suspected “sexual traffickers or exploiters” and 271 suspected “sex buyers.” Also‚ 54 adults and 11 children were rescued‚ including a 14-year-old girl‚ Luna said. It was unclear how many arrests were made in Los Angeles County. “Human trafficking and child exploitation are devastating crimes that prey on some of the most vulnerable members of our community‚” Luna said. 539 arrests‚ including 40 suspected "sexual traffickers or exploiters'' and 271 suspected "sex buyers.'' Also‚ 54 adults and 11 children were rescued‚ including a 14-year-old girl‚ https://t.co/L4wu3LpYOI — Doug Walker (@DougWalker9) January 30‚ 2024 “This week-long operation demonstrates that if you engage in human trafficking activities‚ harm our children‚ and destroy lives‚ there will be absolute consequences; and there is no refuge for predators in the state of California‚” Luna added. FOX 11 Los Angeles noted: In one Los Angeles County operation‚ task force personnel conducted an undercover “sex buyer” operation on a stretch of Holt Avenue in Pomona‚ Luna said. Twelve males‚ two of whom are registered sex offenders‚ were arrested on suspicion of solicitation of prostitution‚ Luna said. In San Diego County‚ a 17-year-old girl was at the Parkway Plaza Mall in El Cajon when she was approached by a man who told her “she should be a model” and gave her a business card that had a phone number on it‚ Luna said. The girl called the number‚ and she was told that she would be “doing date sex with guys at hotels.” The girl told her mother‚ who contacted authorities‚ and the suspect was arrested on suspicion of human trafficking of a minor and other offenses‚ Luna said. Luna was joined at the news conference by Los Angeles County District Attorney George Gascón‚ and representatives from the LAPD‚ the federal Department of Homeland Security and other agencies.

Aerosmith have now enjoyed decades of superstardom‚ but go back to early 1987 and they were staring down the barrel

Home to the Velvet Underground‚ Warhol‚ Bowie and the New York Dolls‚ Max’s Kansas City was about so much more than just the music that was played there