"United Parcel Service, one of the world's largest package-delivery companies, has announced plans to slash up to 30,000 jobs amid a push to cut costs and boost profits. UPS, based in the US state of Georgia, will make the cuts as part of efforts to achieve savings of $3bn in 2026, UPS chief financial officer Brian Dykes said on an earnings call on Tuesday."
"Dykes said the job cuts, part of plans to reduce UPS's reliance on deliveries for its largest customer, Amazon, would be achieved through attrition and voluntary buyouts. We expect to offer a second voluntary separation programme for full-time drivers, Dykes said. UPS will also shut 24 buildings in the first half of the year and evaluate other buildings for closure in the second half, Dykes said."
UPS will cut up to 30,000 jobs to achieve $3bn of savings in 2026 while reducing reliance on deliveries for Amazon and focusing on more lucrative parcels. Job reductions will rely on attrition and voluntary buyouts, including a planned second voluntary separation programme for full-time drivers. The company will close 24 buildings in the first half of the year and evaluate additional closures in the second half. The $3bn target follows $3.5bn of 2025 savings that included eliminating 26.9 million labour hours and closing 93 buildings. Quarterly revenue was $24.5bn, annual revenue totaled $88.7bn, and 2026 revenue is projected at $89.7bn. The Teamsters union criticized the cuts as insulting, and shares closed up 0.22 percent.
Read at www.aljazeera.com
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