Summary
UPS, a major package-delivery company based in Georgia, plans to cut up to 30,000 jobs to save money and increase profits. The company aims to achieve $3 billion in savings by 2026 through measures such as reducing reliance on Amazon, offering voluntary buyouts, and closing some buildings.
Key Facts
- UPS will cut up to 30,000 jobs to save money and increase profits.
- The company aims to save $3 billion by 2026.
- UPS plans to reduce its dependency on Amazon deliveries.
- Voluntary buyouts and job cuts through attrition will be offered.
- 24 buildings will close in the first half of the year, with more closures possible later.
- The company previously saved $3.5 billion in 2025 through similar measures.
- Teamsters union president criticized the job cuts.
- UPS expects revenues to reach $89.7 billion in 2026.
