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.