NEW YORK - United Parcel Service Inc raised its fourth-quarter outlook on Friday and said it would cut 1,800 management and administrative jobs. Its shares rose 4 percent.
The shipper expects fourth quarter earnings in the range of 73 cents to 75 cents per share, compared with an earlier estimate of 58 cents to 65 cents per share.
The company will report its earnings on February 2.
Atlanta-based UPS also said it would reduce the number of districts and regions in its U.S. small package operation.
Its shares were up $2.49 at $59.90 in premarket trading.