General chit chat and shit talk.

[J.J Stokes]

No I beat my meat the other day so I've failed

Congratulations ??

 

[LordSensei1958]

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[LordSensei1958]

Congratulations ??

You were supposed to say "Come again?".

 

[HSanders]

UPS on Tuesday announced it is planning to cut 20,000 jobs this year, part of a cost-cutting effort that's linked to the delivery giant's decision to deliver fewer packages from Amazon, its biggest customer.

The shipping company, which operates in over 200 countries, currently has around 490,000 employees. The layoffs will impact slightly over 4% of its workforce. This follows an announcement from UPS last year that it would cut 12,000 positions.

The move is part of the company's plan to consolidate UPS's facilities and workforce. Along with the job cuts, the company announced it will also close 73 of its buildings by the end of June 2025 and said that it may target additional buildings for closure.

"These actions will enable us to expand our U.S. Domestic operating margin and increase profitability," Brian Dykes, the chief financial officer of UPS said during an earnings call on Tuesday morning.

In a Tuesday regulatory filing, UPS said the cuts are in "connection with our anticipation of lower volumes from our largest customer." The company, which announced $21.5 billion in revenue for this past quarter, expects to save $3.5 billion this year as a result of its consolidation plan.

According to Sean M. O'Brien, the Teamsters general president, UPS is contractually obligated to create 30,000 Teamsters jobs under their current national master agreement.

"If UPS wants to continue to downsize corporate management, the Teamsters won't stand in its way," O'Brien said. "But if the company intends to violate our contract or makes any attempt to go after hard-fought, good-paying Teamsters jobs, UPS will be in for a hell of a fight."

"Strong" relationship with Amazon​

The company in January said it had reached an agreement with Amazon to decrease its delivery volume by more than 50% in the second half of 2026.

"The reduction of package volume from Amazon is something UPS chose to do as we focus on revenue quality, and increase domestic operating margin and profitability," a UPS spokesperson told CBS MoneyWatch in an email.

Amazon said in an email to CBS MoneyWatch that the company has a "strong working relationship" with UPS and that it had actually offered to increase UPS' volumes before the delivery company made the decision to reduce its Amazon shipments.

"Due to their operational needs, UPS requested a reduction in volume and we certainly respect their decision," said Kelly Nantel, an Amazon spokesperson. "We'll continue to partner with them and many other carriers to serve our customers."

UPS delivers millions of packages worldwide each year. Last year, the company delivered an average of 22.4 million parcels per day, or 5.7 billion for the entire year.

UPS shares slipped 55 cents, or 0.6%, to $96.61 in afternoon trading.

Trade risks rising​

In its quarterly earnings statement, the company also mentioned the risk that shifts in global trade policy could have on business. The Trump administration has introduced sweeping new tariffs in recent months that have already began to impact the flow of goods in and out of the country, and around the world.

UPS handles roughly 400,000 imported parcels each day, or roughly 2% of the packages they move on a daily basis. Still, the company could be impacted if the trade war between China and the U.S. continues.

"From a revenue perspective, last year, revenue on our China to U.S. trade lanes represented 11% of our total international revenue," said CEO Carol Tomé said during Tuesday's earning call. "Our China to U.S. trade lines are our most profitable trade lines."

UPS is keeping customers abreast of tariff developments on its website. It has also introduced a tool called UPS Global Checkout that shows online shoppers the upfront costs they will have to pay in duties, fees and taxes.

Amazon is also coming under pressure over tariffs. White House press secretary Karoline Leavitt on Tuesday accused the retailer of engaging in "a hostile and political act" after political news site Punchbowl reported that Amazon plans to display tariff costs next to product prices.

"Why didn't Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?" Leavitt said during a press briefing.

Amazon pushed back on the report, saying in a Tuesday statement to CBS News that its Amazon Haul store "considered the idea of listing import charges on certain products." Amazon Haul was introduced late last year by the e-commerce giant to sell low-cost goods to compete with Temu and Shein.

"This was never approved and is not going to happen," said Tim Doyle, an Amazon spokesperson.

Do you have a link that has the entire story this way? I can't find it upon doing a web search for various statements within the story .thank you.

 

[LordSensei1958]

Do you have a link that has the entire story this way? I can't find it upon doing a web search for various statements within the story .thank you.

It took some searching, but I found it again:

UPS cutting 20,000 jobs amid reduction in Amazon shipments

UPS on Tuesday announced it is planning to cut 20,000 jobs as part of its plan for workforce consolidation.

www.cbsnews.com

 

[LordSensei1958]

Big Lots to reopen 132 stores in May: See the list

The discount chain store will be reopening 132 stores across 14 states. Here’s where.

www.fox29.com

HENDERSON, N.C. - Big Lots announced it will be reopening hundreds of stores this May.



The discount chain store will be reopening 132 stores across 14 states as part of the company’s revitalization strategy.

Big Lots reopening hundreds of stores​

Dig deeper:

According to the company, Big Lots will open in May in two phases, on May 1 and May 15.

Big Lots will reopen in cities across 14 states: Alabama, Florida, Georgia, Indiana, Kentucky, Michigan, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia and West Virginia. Details on store locations can be found at biglots.com.

Grand opening celebrations are planned this fall for all Big Lots stores.

What they're saying:

According to Big Lots, the expansion, which is under the direction of new owners, Variety Wholesalers, will build on the positive customer response to the initial reopenings of Big Lots stores in April 2025.

A sign is posted in front of a Big Lots store on June 07, 2024 in Hercules, California. (Credit: Justin Sullivan/Getty Images)

"We’re excited to bring an additional 132 Big Lots! locations back to life in May," said Lisa Seigies, the president and CEO of Variety Wholesalers. "The customer response to the newly expanded assortment of fresh inventory and great deals has been overwhelmingly positive. The Big Lots! stores opening in May show our continued commitment to providing the best value to our customers with apparel for the family, everyday needs for the home, kitchen, and pantry plus a huge selection of famous brands. I couldn’t be prouder of the dedicated team who made it possible for us to serve these communities again!"

Big Lots strikes deal to keep stores open​

The backstory:

In December, Big Lots reached a deal that would keep hundreds of its stores and distribution centers open after filing for bankruptcy protection last September.

At the time, Big Lots said it would be sold to Gordon Brothers Retail Partners, a firm that specializes in distressed companies. Gordon Brothers would then transfer Big Lots’ stores, distribution centers and other assets to other retailers.


Variety Wholesalers, which owns more than 400 discount stores in the U.S. Southeast and Mid-Atlantic regions, planned to acquire between 200 and 400 Big Lots stores and operate them under the Big Lots brand.

"This sale agreement and transfer present the strongest opportunity to preserve jobs, maximize value for the estate and ensure continuity of the Big Lots brand," Big Lots President and CEO Bruce Thorn said in a statement. "We are grateful to our associates nationwide for their grit and resilience throughout this process."

 

[LordSensei1958]

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