UPS Offers Voluntary Retirement Incentive To Eligible U.S.-Based Management Employees
April 25 2018 - 4:00PM
UPS (NYSE: UPS) today announced further actions within the
company’s organizational transformation initiatives. A select
group of non-operations, retirement-eligible U.S. management
employees were informed of their eligibility for participation in a
special Voluntary Retirement Plan (VRP). Under the VRP, eligible
employees will be offered a financial buyout to retire. The
voluntary retirement program is designed to occur in phases to help
maintain an orderly transition among those eligible to
retire. The special VRP offer does not change the design, nor
eligibility for, UPS retirement plans. This initiative will reduce
headcount and lower on-going operating expense. The financial
details of the voluntary program will be disclosed at a future
date.
The UPS transformation is positioning the company to take
advantage of record growth in demand for logistics services.
This is the first of several new initiatives. The company is also
streamlining work processes through technology for greater staff
efficiency and raising operating efficiency through investment in
its global smart logistics network. UPS expects its transformation
initiatives to redirect resources to improve customers’ experience,
enhance growth initiatives, create employee career opportunities
and strengthen shareowner returns.
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a
broad range of solutions including transporting packages and
freight; facilitating international trade, and deploying advanced
technology to more efficiently manage the world of business.
Headquartered in Atlanta, UPS serves more than 220 countries and
territories worldwide. The company can be found on the web
at ups.com or pressroom.ups.com and its corporate blog can be
found at longitudes.ups.com. To get UPS news direct,
follow @UPS_News on Twitter.
Steve Gaut
404-828-8787
sgaut@ups.com
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