economy
January 27, 2026
UPS says it would cut up to 30,000 jobs this year as it aims to boost turnaround
United Parcel Service adds to 2025 job reductions as delivery giant slashes low-profit Amazon deliveries
TL;DR
- UPS to cut up to 30,000 operational roles by 2026.
- Company beat Wall Street estimates for the holiday quarter.
- UPS forecasts a surprise rise in annual revenue.
- Plans to accelerate a turnaround by focusing on higher-margin shipments.
- Accelerating a plan to slash low-profit deliveries for Amazon.
- Workforce reduction will be accomplished through attrition and voluntary separation programs for full-time drivers.
- UPS aims to rebuild profitability and stabilize volumes after the end of US 'de minimis' shipments.
- Company has cut 48,000 jobs, launched driver buyouts, and closed 93 facilities in 2025 targeting $3bn in savings by 2026.
- Recorded a $137m charge related to writing off the MD-11 fleet after a crash.
- Projected 2026 revenue of $89.7bn, exceeding analyst expectations.
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