Bring on the holiday season.
United Parcel Service Inc. (UPS) - Get United Parcel Service, Inc. Class B Report plans to bring on 100,000 workers during the peak holiday season, Chief Strategy and Transformation Officer Scott Price told TheStreet in an interview.
The Atlanta-based company will use technology, specifically automated recruiting capabilities, to hire those workers, according to Price.
"We will put on more capacity this year than we ever have put on before," Price said. "That capacity will help us in some of the geo areas where there was a disproportionate growth."
UPS said last year that shipments surged beyond network capacity during the holiday season, costing about $125 million.
Price noted that Atlanta had "a lot of noise last year, so we went and brought on the second-largest facility we have in the world -- it's already come online, already in soft-opening" in the city.
The company announced that seven new "super hub" automated sortation facilities would be opening, one of which is located in Atlanta.
"When we complete this phase of our Global Smart Logistics Network enhancement by 2022, 100% of eligible volume in the U.S. will be sorted using these new more highly automated sites," Chief Executive Officer David Abney said in a statement.
Additionally, UPS wants to collaborate with business on the commitments they are making to consumers to better pace volume and deliver on those promises, Price said.
"The collaborative discussions and how we will pace volume means this year's peak will look very different from last year's peak in terms of the work we're going to do," said Price.
Shares of UPS fell 3.2% to $119.32 at 2:30 p.m.; the stock began dropping during the company's transformation conference, even though the company outlined $1 billion of cost savings and an increase to adjusted earnings per share in the range of $1 to $1.20 by 2022.
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