"UPS said in a regulatory filing that it has cut about 34,000 operational positions and closed daily operations at 93 leased and owned buildings during the first nine months of this year as part of its turnaround plan. The company also announced approximately 14,000 job cuts, mostly within management. It said that it is still looking to identify additional buildings to close."
"UPS earned $1.31 billion, or $1.55 per share, for the three months ended September 30. The Atlanta-based company earned $1.99 billion, or $1.80 per share, a year earlier. Removing onetime costs, earnings were $1.74 per share. That easily topped the $1.31 per share that analysts polled by Zacks Investment Research were calling for. Revenue totaled $21.42 billion, surpassing Wall Street 's estimate of $20.84 billion."
"In January, UPS announced that it had reached a deal with Amazon, its biggest customer, to lower its volume by more than 50% by the second half of 2026. During UPS's fourth-quarter earnings conference call in January, CEO Carol Tomé said that the company had partnered with Amazon for almost 30 years and that when its contract came up this year, UPS decided to reassess the relationship."
UPS reported third-quarter earnings of $1.31 billion, or $1.55 per share, down from $1.99 billion a year earlier; adjusted earnings were $1.74 per share. Revenue totaled $21.42 billion, above estimates of $20.84 billion, and shares rose more than 7%. Company filings show about 34,000 operational positions cut and daily operations closed at 93 leased and owned buildings in the first nine months, plus approximately 14,000 mostly management job cuts, totaling roughly 48,000 layoffs. UPS reached a deal to lower Amazon volume by more than 50% by the second half of 2026 and has realized $2.2 billion in cost savings through September 30, targeting $3.5 billion in 2025.
Read at Fast Company
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