UP reported $1.5 billion revenue or over $16 million per day for 1st quarter 2020 & $1.1 billion or over $12 million per day for the end quarter,yet they continue to cut the work force of employees they called essential, vital and valued. You can only cut so much before you get diminishing returns, eventually you need to increase revenue, with so many cuts causing over worked employees that remain. UP won't have the man power to increase business. But when the CEO is cashing in $32 million in cash over the last 2 year's I doubt that he cares.
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OBX, you are nuts if you think PSR and the layoffs are happening without the direction and consent of the board of directors. And I do believe many employees believe this is something the execs are doing in their own. All you have to do is read the various posts to form this opinion. Maybe you should tell us where you get your info if none of this is correct.
Thanks for laying off one week a month without pay!! Cha Ching $$
@OP That’s modern capitalism. It’s the same at every large company. Different logos, different acronyms, same result.
I think it's very bold of you to say "some if not most fail to realize is the ones calling the shots don't care about any of these things". Please don't assume that some or most of us don't see the bigger picture. I think some or most of you that make those claims, don't fully understand the situation either. Who do you think is making the decisions? Before you answer that, you need to tell the rest of us how involved you are in the board meetings and executive conference calls. Do you see where this is going yet. I don't know who's making all the decisions, or why they're making these calls. All I do know for sure is that it's happening. Unless someone on the executive level gets on here and tells us with verifiable proof of who's making the decisions, then it's just another opinion like the rest of them. I lost my job too, and it s—s the same. A lot of the people that lost their jobs, lost a lot more than just a job.
If you or I were receiving millions in dividends without working for it we would not care either. Stop working to pay interest and start working to receive interest.
Too much is never enough and they don’t care at all about the employees, either management or union. The only thing that matters to the board of directors and stockholders, and consequently the execs is profit and stock price. So many people in this forum talk about the long term effects to customers, laid off employees, and the companies reviews. What some, if not most fail to realize is the ones calling the shots don’t care about any of these things. They don’t care what the long term viability of the company is, only that they get richer now. Anyone below the exec level in this company doesn’t have any value to them. We are only a means to their goal of greater riches at the expense of others. This is a very sad, but true way the company is being ran.
How much is enough & at what cost to hard working employees
Organize a walk off. The unions are useless at this point. I didn't even give them a 2 week notice when I resigned. Signed my papers from my phone to avoid being walked off property like a criminal.