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UPS cut more jobs than expected this year, shrinking its workforce by 34,000 jobs
Business Insiderยท 2025-10-28 13:09
Core Insights - UPS has reduced its operational workforce by approximately 34,000 jobs in 2025, exceeding its initial expectation of 20,000 job cuts [1][2] - The company closed 93 facilities in the first nine months of 2025, surpassing its planned closure of 70 facilities [2] - UPS anticipates $3.5 billion in savings this year from these cuts, marking the largest network reconfiguration in its history [2] - The company is scaling back on less profitable business segments, notably reducing its partnership with Amazon by half by mid-2026 [3] - Following the earnings report, UPS shares increased by 12% in premarket trading due to better-than-expected earnings [3]