UPS shares fell before market opening due to the announcement of a workforce reduction of around 12,000 positions and strategic alternatives for its Coyote truck load brokerage business.

 UPS's union members voted in favor of a preliminary contract agreement, ending labor negotiations marked by conflict.

CEO Carol Tome stated that UPS will achieve $1 billion in cost savings by reducing the company's headcount.

UPS will reinstate a policy requiring employees to work in the office for five days per week this year.

UPS's projected revenue for 2024 is between $92 billion and $94.5 billion, with an adjusted operating margin of approximately 10% to 10.6%.

The company reported a fourth-quarter revenue of $24.92 billion, falling short of analysts' projections of $25.31 billion and representing a 7.8% decrease compared to the previous year.

The company's board authorized a 1% increment in its quarterly dividend, resulting in a new dividend amount of $1.63 per share.

UPS's performance in relation to Wall Street estimates was characterized by declines in volume, revenue, and operating profits across all three of its business segments.