Business
Business

UPS details holiday shipping expense

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Feb 3, 2015

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Sandy Springs-based UPS said it ended up hiring a total of 100,000 temporary employees over the holiday shipping season of 2014.

The shipping giant disclosed that it hired even more than the 90,000 to 95,000 seasonal workers it had planned as it reported a decline in profits for the fourth quarter. UPS also said it had a 12 percent increase in deliveries on Cyber Monday during the 2014 holiday season, exceeding its projections.

The company, which earlier disclosed that its investments combined with choppiness during the holiday season would take a toll, reported fourth quarter net income of $453 million, down from close to $1.2 billion a year earlier.

“It was important to fortify the trust of customers and protect our brand,” said UPS CEO David Abney during a conference call with analysts on the company’s financial results. “While we met our commitments to serve customers, we certainly did not meet our financial objectives.”

The company’s efforts to improve its profitability could increase shipping costs for customers. Abney said the company would begin charging peak surcharges for residential packages.

About the Author

As business team lead, Kelly Yamanouchi edits and writes business stories. She graduated from Harvard and has a master's degree from Northwestern.

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