United Parcel Service Inc. (UPS) said Wednesday that it expects to hire more than 100,000 employees for the holiday season, which is the same as last year despite expectations of record seasonal volume. The stock rallied 2.5% in morning trading. The company said the seasonal hires will support expected increase in package volume that is expected to begin in October and continue through January. "We're preparing for a record peak holiday season. The COVID-19 pandemic has made our services more important than ever," said Chief Human Resources Officer Charlene Thomas. The package delivery giant said that over the past three years, about 35% of seasonal hires were later hired for permanent positions. About one-third of UPS's current 123,000 employees started in seasonal positions. UPS's stock has run up 37.0% year to date, while the Dow Jones Transportation Average has edged up 3.2% and the Dow Jones Industrial Average has slipped 2.2%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 09, 2020 10:12 ET (14:12 GMT)
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