UPS Announces Reductions in Spite of Profits ATLANTA, GA (WABE) - Atlanta-based UPS today announced that its fourth quarter earnings for 2009 are expected to do far better than first thought. At the same time, though, the package shipping company said it will shed 1800 management-level jobs nationwide as part of a restructuring.

WABE's Odette Yousef reports.

The shares were initially projected to value between 58 and 65 cents now they're estimated at 73 to 75 cents. The profits came mostly through cost management measures, which have included freezes on hiring and salaries, suspending the 401K match, and workforce reduction through attrition.

Now, UPS plans to close two of its five regional management offices, and more than half of its 46 district offices spokesperson Norman Black.

BLACK: It's not something that's related to the recession or whether or not package volume is up or down. It's literally something that's going to position us for the future.

Black says new technologies allow the company to manage larger geographic areas from one location.

The reduction will eliminate management jobs, about 60 of which will be here in Atlanta, at the Southeast regional headquarters. The company hopes to shed those jobs by April, mostly through attrition and voluntary buyouts.

Odette Yousef, WABE News.
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