By Tomi Kilgore A FedEx exec had said the company held on to ‘all’ of the market share it gained while UPS was negotiating with Teamsters ‘By the end of December, we had won back and pulled through nearly 60% of the volume diverted during our labor negotiation.’UPS Chief Executive Carol Tomé That, from a FactSet transcript of United Parcel Service Inc.’s fourth-quarter earnings call Tuesday, appears to be UPS Chief Executive Carol Tomé’s way of saying you shouldn’t believe rival FedEx Corp.’s recent claims on how much market share it’s been able to gain recently. In August, Tomé acknowledged that “late and loud” negotiations between UPS (UPS) and the Teamsters union had led to the more customers than expected going elsewhere to ship their goods. That labor friction, FedEx Chief Customer Officer Brie Carere said last summer, had “opened a lot of doors” to take share from UPS. Then,

United Parcel Service is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The package delivery company said it planned to reduce staff by about 12,000, and is expecting to cut costs by $1 billion this year. The company also said it is exploring strategic alternatives for its truckload brokerage business. Dow Jones & Co. owns Factiva.

United Parcel Service’ announcement regarding the exploration of alternatives for its freight business Coyote Logistics comes about three months after digital startup Convoy, backed by investors including Jeff Bezos and Bill Gates, wound down its operations. “Coyote represents a relatively small piece of UPS’ business and has seen a lot of volatility amid revenue pressure, but we didn’t expect this,” Citi analyst Christian Wetherbee tells WSJ. “The U.S. freight economy has had two particularly bad years, as freight saw a recession over the past 12 to 18 months, but we’re getting past that,” Wetherbee says. UPS shares fall 7.1% to $146.80.