Word: davises
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"It looks like this recession is finally over," declared Scott Davis, CEO of UPS, earlier this month while announcing 2009 earnings that were better than expected for the world's largest package carrier. Speaking to analysts on Feb. 2, Davis added, "Believe it or not, that makes 21 that UPS...
UPS has not escaped this recession unscathed. Revenue last year shrank by about $6 billion from 2008, forcing widespread belt-tightening. Just last month, despite the improved outlook, Davis revealed a major restructuring that included 1,800 management and administrative layoffs. Two weeks later, on Feb. 8, he announced plans...
It's part of an evolving intermodal strategy that has environmental benefits as a by-product. For instance, UPS is now U.S. railroads' largest customer, paying a premium for the fastest trains. "Instead of putting some of our larger loads on an airplane, we can send them by truck, which...
Abroad, though, is also where UPS faces some of its biggest risk. Increasingly stringent environmental laws and rising costs for Asian labor and raw materials all make this business vulnerable. An even more immediate concern is the possibility of government-imposed tariffs or border restrictions. "Global trade is going to...
At home, UPS treads a fine line on labor costs. Unlike at FedEx, most of its workers are unionized, meaning salaries are higher. Over the years, however, this has engendered tremendous loyalty to the firm--the average tenure for drivers is 16 years. UPS will try to reward some of...