1,800 jobs go at UPS

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Parcel giant UPS is restructuring its US business with the loss of some 1,800 management and administrative positions across the country.

From April, it will reduce its US regions from five to three and its districts from 46 to 20. It said there were no plans to close any operating facilities.

Chairman and CEO Scott Davis said: “The new management structure creates regions and districts that are better aligned geographically. In turn, this will enable more local decision-making and resources to be deployed for our customers.”

The group also announced that it expects to exceed its previous estimate for fourth quarter 2009 earnings, now anticipating a range of $0.73 to $0.75 per diluted share. The company previously projected earnings of $0.58 to $0.65 per diluted share.

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