UPS is set to reduce its workforce by 20,000 positions and close 73 facilities by June, marking a 4% reduction in its 490,000 global workforce. The layoffs are part of a strategy to save $3.5 billion this year, following a loss of business from Amazon, which once constituted about 12% of its revenue. With CEO Carol Tomé emphasizing strength and agility, the company aims to adapt to challenging market conditions and shifts in shipping volumes, particularly from international sellers amid new tariffs on Chinese goods.
This year, UPS plans to reduce its global workforce by 20,000 positions and close 73 facilities to adapt to declining revenues.
The workforce reductions are a response to decreased business from Amazon, which is projected to shrink by over 50% by mid-2026.
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