Far-left clown outlets like Axios have been out here reporting for months that the economy is THE BEST THING EVER AND DON'T YOU THINK OTHERWISE.
Doesn't it sound nice?
Propaganda, meet reality 👇
UPS laying off 12,000 workers is huge. When massive delivery and logistics companies start trimming the fat, it's a sign of the wider economy's health. A healthy economy is like a healthy digestive tract: It moves.
UPS's stock was down 6% on Tuesday morning after the announcement. It hopes to cut $1 billion in expenses to survive this best economy ever.
ZeroHedge notes that the cuts come after the UPS union made a huge labor deal (surprise, surprise) to keep up with their own cost of living:
Five months after unionized UPS workers ratified a massive five-year labor deal that included massive pay bumps (read: here), the logistics company announced on Tuesday morning that 12,000 jobs, or about 14% of its 85,000 management jobs, would be cut.
Get ready to be replaced by bots, white-collar cubicle dwellers! Make sure to thank the guy you voted into office!
Chief Executive Officer Carol Tomé was quoted on an earnings call by Bloomberg as saying job reductions were due to sliding package demand and soaring union labor costs. She said the layoffs would save the company about $1 billion this year.
The cycle goes like this: The government prints tons of money. Inflation gets out of control. People demand raises to keep up. Businesses agree, then pivot when they start failing in order to survive. Workers get laid off. The government prints more money and demands higher wages to "help."
And 'round and 'round we go!
Fourth-quarter sales and 2024 guidance fell short of average analysts' estimates due to higher labor costs and slowing package demand.
Also, 'UPS is seeking alternative strategies for its truck brokerage business, which has seen sales plummet amid a freight recession marked by declining rates and overcapacity,' Bloomberg pointed out.
Pay attention to the media. Notice, like I have, how they've circled the wagons around an ancient president who barely knows where he is at any given moment, let alone how to grow a strong economy.
You'll only be surprised by reality if you keep listening to them.
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