UPS looks to cut up to 30,000 jobs this year

Core Viewpoint - UPS is planning to cut up to 30,000 operational jobs this year as part of its turnaround efforts and to reduce the number of Amazon shipments it handles [1] Group 1: Job Cuts and Operational Changes - The job cuts will be implemented through a voluntary buyout offer for full-time drivers and through attrition [2] - UPS is also planning to close 24 buildings in the first half of the year and is evaluating additional closures later in the year [2] - In the first nine months of the previous year, UPS cut about 34,000 operational positions and closed daily operations at 93 buildings [3] Group 2: Relationship with Amazon - UPS announced in April that it aimed to reduce about 20,000 jobs and close over 70 facilities due to a significant decrease in Amazon shipments [4] - A deal reached with Amazon will lower shipment volume by more than 50% by the second half of 2026, with a reduction of approximately 1 million pieces per day by the end of 2025 [4][5] - The company intends to continue reducing Amazon's volume by another million pieces per day for the full year 2026 [5] Group 3: Financial Impact - Shares of United Parcel Service Inc. rose 3.4% in afternoon trading following the announcements [5]