(AP) – UPS said on Tuesday that it will cut 12,000 jobs and released a revenue outlook for this year that sent its shares down sharply. The company also hinted that its Coyote truck load brokerage business may be put up for sale. UPS acquired the Chicago-based company for $1.8 billion in 2015. The Teamsters in September voted to approve a tentative contract agreement with UPS, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide. The contract includes pay raises for full- and part-time union workers, the creation of 7,500 full-time jobs and the filling of 22,500 open positions, allowing more part-timers to transition to full-time. On a conference call Tuesday morning, CEO Carol Tome said that by reducing the company’s headcount UPS will realize $1 billion in cost savings. The job eliminations are anticipated to be among management roles and contractors, the company said. With Tuesday’s announcement, the company joined several others in announcing layoffs in the new year, including eBay, Wayfair, Macy’s, Amazon, Google and Meta. (Photo: AP)