World’s leading package-delivery company United Parcel Service Inc. on Friday raised its earning forecast for the fourth quarter of last year and announced its plans to slash as many as 1,800 jobs.

Now, UPS anticipates fourth quarter earnings to be between 73 cents and 75 cents per share as compared with earlier projection of 58 cents and 65 cents.

UPS said it realized better than expected results in both United States and the international operations, helped by its cost-cutting efforts.

Speaking on the issue, company’s CFO Kurt Kuehn said, “The stronger earnings stem from better-than-expected results in both domestic and international operations and savings through cost management.”

The company also said that it would axe 1,800 management and administrative jobs, though it expects to close no operating facility. About 1,100 voluntary separation packages will be offered by the company.

UPS provides jobs for around 425,000 people around the world, with as many as 340,000 jobs in the United States.

Shares in UPS advanced 4.7 per cent to $60.10-a-share.