UPS Says Almost 200 Employees Take Voluntary Buyout Package
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UPS Inc. said Wednesday that almost 200 of its employees accepted a voluntary early-retirement buyout package that will cost the company about $80 million.
The offer was accepted by 194 employees age 50 or older with at least 10 years of service, UPS said. Normal retirement age at the company is 65.UPS will record the one-time charge to expenses in the first quarter, and said it expects to generate a positive return on the program after two years.The buyout offer was part of an on-going effort to consolidate corporate support functions in such areas as network planning, procurement, human resources, finance and sales, the company said.UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
UPS Inc. said Wednesday that almost 200 of its employees accepted a voluntary early-retirement buyout package that will cost the company about $80 million.
The offer was accepted by 194 employees age 50 or older with at least 10 years of service, UPS said. Normal retirement age at the company is 65.UPS will record the one-time charge to expenses in the first quarter, and said it expects to generate a positive return on the program after two years.The buyout offer was part of an on-going effort to consolidate corporate support functions in such areas as network planning, procurement, human resources, finance and sales, the company said.UPS is ranked No. 1 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
