UPS expecting $200M in annual future saving from early retirement buyouts - Atlanta Business Chronicle
UPS said it recorded a $263 million "pre-tax transformation charge" in the second quarter, due primarily to VRP severance expense.
UPS said employees who accepted the financial buyout to retire will depart on a staggered schedule over the next 12 months to maintain business continuity. UPS said it does not expect significant savings in 2018 from the VRP, and that full savings from the program will be realized upon completion after the second quarter 2019.
UPS said this initiative will reduce its headcount and lower ongoing staffing expense.
UPS said it recorded a $263 million "pre-tax transformation charge" in the second quarter, due primarily to VRP severance expense.
UPS said employees who accepted the financial buyout to retire will depart on a staggered schedule over the next 12 months to maintain business continuity. UPS said it does not expect significant savings in 2018 from the VRP, and that full savings from the program will be realized upon completion after the second quarter 2019.
UPS said this initiative will reduce its headcount and lower ongoing staffing expense.
