Despite a fourth-quarter net income of $757 million reported last week, UPS is still considering furloughing 300 pilots in May. They are still however negotiating with the Independent Pilot Association on ways to avoid this, such as early retirement, and leaves of absence yet this has been in the works for the past year. For UPS to come out in the free press and make this statement even, it seems as if the decision has already been made.
The company, one of the world's largest delivery integrators has been on a belt -tightenirg program for the past two years. With 1800 jobs already cut, salary freezes, and removing the match on 401K plans, UPS aims to go as lean as possible as the economic recovery wavers through 2010.
Read more at the WSJ
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