CargoAdmin, Bureaucrats, Moderators (CommentStreams), fileuploaders, Interface administrators, newuser, Push subscription managers, Suppressors, Administrators
14,662
edits
United Parcel Service: Difference between revisions
m
Text replacement - "The Wall Street Journal" to "The Wall Street Journal"
m (Text replacement - "CNN" to "CNN") |
m (Text replacement - "The Wall Street Journal" to "The Wall Street Journal") |
||
| Line 83: | Line 83: | ||
In February 2012, UPS acquired [[Brussels]]-based company Kiala that provides e-commerce retailers the option to have goods delivered to a conventional retail location.<ref>{{cite news|last1=Berman|first1=Jeff|title=UPS expands B2C presence with Kiala acquisition|url=http://www.logisticsmgmt.com/article/ups_expands_b2c_presence_with_kiala_acquisition|access-date=February 12, 2017|publisher=Logistics Management|date=February 16, 2012|archive-date=April 18, 2017|archive-url=https://web.archive.org/web/20170418083814/http://www.logisticsmgmt.com/article/ups_expands_b2c_presence_with_kiala_acquisition|url-status=live}}</ref> | In February 2012, UPS acquired [[Brussels]]-based company Kiala that provides e-commerce retailers the option to have goods delivered to a conventional retail location.<ref>{{cite news|last1=Berman|first1=Jeff|title=UPS expands B2C presence with Kiala acquisition|url=http://www.logisticsmgmt.com/article/ups_expands_b2c_presence_with_kiala_acquisition|access-date=February 12, 2017|publisher=Logistics Management|date=February 16, 2012|archive-date=April 18, 2017|archive-url=https://web.archive.org/web/20170418083814/http://www.logisticsmgmt.com/article/ups_expands_b2c_presence_with_kiala_acquisition|url-status=live}}</ref> | ||
In 2018, '' | In 2018, ''The Wall Street Journal'' reported that UPS's operations were hampered by its outdated 20th-century technology, lagging behind its competitors.<ref name="WSJ technology">{{cite news |last1=Ziobro |first1=Paul |title=UPS's $20 Billion Problem: Operations Stuck in the 20th Century |url=https://www.wsj.com/articles/upss-20-billion-problem-operations-stuck-in-the-20th-century-1529072397 |access-date=January 9, 2021 |work=The Wall Street Journal |date=June 15, 2018 |archive-date=January 11, 2021 |archive-url=https://web.archive.org/web/20210111104755/https://www.wsj.com/articles/upss-20-billion-problem-operations-stuck-in-the-20th-century-1529072397 |url-status=live }}</ref> | ||
In May 2019, UPS launched a partnership with autonomous trucking startup TuSimple to carry cargo across [[Phoenix, Arizona|Phoenix]], Arizona, and [[Tucson, Arizona|Tucson]], Arizona.<ref>{{Cite web|url=https://www.theverge.com/2019/8/15/20805994/ups-self-driving-trucks-autonomous-delivery-tusimple|title=UPS has been quietly delivering cargo using self-driving trucks|last=O'Kane|first=Sean|date=August 15, 2019|website=The Verge|access-date=August 29, 2019|archive-date=February 7, 2021|archive-url=https://web.archive.org/web/20210207221558/https://www.theverge.com/2019/8/15/20805994/ups-self-driving-trucks-autonomous-delivery-tusimple|url-status=live}}</ref> | In May 2019, UPS launched a partnership with autonomous trucking startup TuSimple to carry cargo across [[Phoenix, Arizona|Phoenix]], Arizona, and [[Tucson, Arizona|Tucson]], Arizona.<ref>{{Cite web|url=https://www.theverge.com/2019/8/15/20805994/ups-self-driving-trucks-autonomous-delivery-tusimple|title=UPS has been quietly delivering cargo using self-driving trucks|last=O'Kane|first=Sean|date=August 15, 2019|website=The Verge|access-date=August 29, 2019|archive-date=February 7, 2021|archive-url=https://web.archive.org/web/20210207221558/https://www.theverge.com/2019/8/15/20805994/ups-self-driving-trucks-autonomous-delivery-tusimple|url-status=live}}</ref> | ||
| Line 97: | Line 97: | ||
In January 2021, UPS announced it had agreed to sell UPS Freight, its less-than-truckload freight business, to [[TFI International]], a Canadian transport and logistics company, for $800 million. UPS said the move would allow it to focus on small-package delivery. At the time of the sale, UPS Freight had about 14,500 employees, approximately 11,000 of them represented by the Teamsters union, and generated an estimated $3.15 billion in revenue in 2020 offering services across the US, Canada, and Mexico. TFI had reported $4.1 billion in revenue in 2019 and already operated truckload and LTL services in Canada.<ref name="TFITOBUYUPSF">{{cite web |url-access=subscription |first1=Jennifer |last1=Smith |first2=Paul |last2=Ziobro |title=UPS to Sell Freight Trucking Business to TFI for $800 Million |url=https://www.wsj.com/articles/ups-to-sell-freight-trucking-business-to-tfi-for-800-million-11611592797 |website=Wall Street Journal |access-date=August 12, 2021 |date=January 25, 2021 |archive-date=January 25, 2021 |archive-url=https://web.archive.org/web/20210125171330/https://www.wsj.com/articles/ups-to-sell-freight-trucking-business-to-tfi-for-800-million-11611592797 |url-status=live }}</ref> The acquisition was completed in April and UPS Freight was renamed [[TForce Freight]].<ref name="TFIBUYSUPSF">{{cite web |title=TFI International Completes Previously Announced UPS Freight Acquisition |url=https://www.bloomberg.com/press-releases/2021-04-30/tfi-international-completes-previously-announced-ups-freight-acquisition |website=Bloomberg |access-date=August 12, 2021 |date=April 30, 2021 |archive-date=May 3, 2021 |archive-url=https://web.archive.org/web/20210503005303/https://www.bloomberg.com/press-releases/2021-04-30/tfi-international-completes-previously-announced-ups-freight-acquisition |url-status=dead }}</ref> | In January 2021, UPS announced it had agreed to sell UPS Freight, its less-than-truckload freight business, to [[TFI International]], a Canadian transport and logistics company, for $800 million. UPS said the move would allow it to focus on small-package delivery. At the time of the sale, UPS Freight had about 14,500 employees, approximately 11,000 of them represented by the Teamsters union, and generated an estimated $3.15 billion in revenue in 2020 offering services across the US, Canada, and Mexico. TFI had reported $4.1 billion in revenue in 2019 and already operated truckload and LTL services in Canada.<ref name="TFITOBUYUPSF">{{cite web |url-access=subscription |first1=Jennifer |last1=Smith |first2=Paul |last2=Ziobro |title=UPS to Sell Freight Trucking Business to TFI for $800 Million |url=https://www.wsj.com/articles/ups-to-sell-freight-trucking-business-to-tfi-for-800-million-11611592797 |website=Wall Street Journal |access-date=August 12, 2021 |date=January 25, 2021 |archive-date=January 25, 2021 |archive-url=https://web.archive.org/web/20210125171330/https://www.wsj.com/articles/ups-to-sell-freight-trucking-business-to-tfi-for-800-million-11611592797 |url-status=live }}</ref> The acquisition was completed in April and UPS Freight was renamed [[TForce Freight]].<ref name="TFIBUYSUPSF">{{cite web |title=TFI International Completes Previously Announced UPS Freight Acquisition |url=https://www.bloomberg.com/press-releases/2021-04-30/tfi-international-completes-previously-announced-ups-freight-acquisition |website=Bloomberg |access-date=August 12, 2021 |date=April 30, 2021 |archive-date=May 3, 2021 |archive-url=https://web.archive.org/web/20210503005303/https://www.bloomberg.com/press-releases/2021-04-30/tfi-international-completes-previously-announced-ups-freight-acquisition |url-status=dead }}</ref> | ||
In 2021, following the company's shift to target smaller customers to boost profits during the [[COVID-19 pandemic]], UPS reported a 21% jump in their fourth quarter sales to $24.9 billion. CEO Carol Tomé reported that [[Amazon (company)|Amazon]] paid UPS $11.3 billion in shipping in 2020, accounting for 13.3% of the company's revenue.<ref>{{Cite news|last=Ziobro|first=Paul|date=February 2, 2021|title=UPS, Delivering Amazon's Surge, Posts Record Revenue|language=en-US|work= | In 2021, following the company's shift to target smaller customers to boost profits during the [[COVID-19 pandemic]], UPS reported a 21% jump in their fourth quarter sales to $24.9 billion. CEO Carol Tomé reported that [[Amazon (company)|Amazon]] paid UPS $11.3 billion in shipping in 2020, accounting for 13.3% of the company's revenue.<ref>{{Cite news|last=Ziobro|first=Paul|date=February 2, 2021|title=UPS, Delivering Amazon's Surge, Posts Record Revenue|language=en-US|work=The Wall Street Journal|url=https://www.wsj.com/articles/upss-revenue-jumps-21-on-online-shopping-surge-11612266696 |url-access=subscription |access-date=February 3, 2021|issn=0099-9660|archive-date=February 20, 2021|archive-url=https://web.archive.org/web/20210220143445/https://www.wsj.com/articles/upss-revenue-jumps-21-on-online-shopping-surge-11612266696|url-status=live}}</ref> | ||
In September 2021, UPS entered into an agreement to acquire [[Roadie (app)|Roadie]] for an undisclosed amount with the transaction expected to be closed in the fourth quarter.<ref>{{Cite news |last1=Ziobro |first1=Paul |last2=Grossman |first2=Matt |date=September 10, 2021 |title=UPS to Buy Delivery Platform Roadie |work= | In September 2021, UPS entered into an agreement to acquire [[Roadie (app)|Roadie]] for an undisclosed amount with the transaction expected to be closed in the fourth quarter.<ref>{{Cite news |last1=Ziobro |first1=Paul |last2=Grossman |first2=Matt |date=September 10, 2021 |title=UPS to Buy Delivery Platform Roadie |work=The Wall Street Journal |url=https://www.wsj.com/articles/ups-to-buy-delivery-platform-roadie-11631285459 |url-access=subscription |access-date=September 14, 2021 |archive-date=September 13, 2021 |archive-url=https://web.archive.org/web/20210913190643/https://www.wsj.com/articles/ups-to-buy-delivery-platform-roadie-11631285459 |url-status=live }}</ref> | ||
In November 2022, it was announced UPS had acquired the healthcare focused, [[Europe]]-based warehousing and temperature-controlled transport company, Bomi Group.<ref>{{Cite web |last=Hardy |first=Edward |date=November 17, 2022 |title=UPS completes acquisition of Bomi Group |url=https://www.aircargoweek.com/ups-completes-acquisition-of-bomi-group/ |access-date=November 17, 2022 |website=Air Cargo Week |language=en-GB |archive-date=November 17, 2022 |archive-url=https://web.archive.org/web/20221117102727/https://www.aircargoweek.com/ups-completes-acquisition-of-bomi-group/ |url-status=live }}</ref> | In November 2022, it was announced UPS had acquired the healthcare focused, [[Europe]]-based warehousing and temperature-controlled transport company, Bomi Group.<ref>{{Cite web |last=Hardy |first=Edward |date=November 17, 2022 |title=UPS completes acquisition of Bomi Group |url=https://www.aircargoweek.com/ups-completes-acquisition-of-bomi-group/ |access-date=November 17, 2022 |website=Air Cargo Week |language=en-GB |archive-date=November 17, 2022 |archive-url=https://web.archive.org/web/20221117102727/https://www.aircargoweek.com/ups-completes-acquisition-of-bomi-group/ |url-status=live }}</ref> | ||