UPS axes 48,000 workers in sweeping cost-cut push, sparking stock surge

UPS has announced a significant reduction of 48,000 jobs as part of a cost-cutting initiative, which has surprisingly led to a surge in its stock prices. This move includes 14,000 management positions and 34,000 roles in driving and warehouse operations. While job cuts are often seen as a negative sign, the market's reaction suggests that investors are optimistic about UPS's future profitability and efficiency. This development is crucial as it reflects the company's strategy to streamline operations and adapt to changing market conditions.