UPS Investor Sentiment Drops 60% on Earnings Backfire And 48,000 Job Cuts

UPS Investor Sentiment Drops 60% on Earnings Backfire And 48,000 Job Cuts

United Parcel Service (NYSE: UPS) shares closed Friday at $96.42, but the real story isn’t the recovery. It’s the stunning collapse in retail investor sentiment following the company’s earnings beat and announcement of 48,000 job cuts. Quick Read UPS (UPS) cut 48,000 jobs (6.5% of workforce) after beating earnings estimates, with revenue down 3.7% year-over-year and earnings down 14.1%. Retail investor sentiment on UPS collapsed 60% in two we…