United Parcel Service (UPS) and pipeline company Enbridge have announced layoffs in Canada amid worsening economic conditions. UPS has announced it will cut 12,000 jobs as part of an effort to save $1 billion. Most of the layoffs are reported to be in managerial and contractor positions.
The job cuts came after the company issued a sales outlook for UPS that expects global revenue to be between $92 billion and $94.5 billion.
Enbridge announced 650 layoffs due to increasingly challenging business conditions. Enbridge spokeswoman Gina Sutherland said the company aims to complete the layoffs by March 1.