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- UPS will cut 20,000 jobs in 2025 as it overhauls its US network to cut costs and boost efficiency.
- The shipping giant plans to shutter 73 facilities and save $3.5 billion as demand remains soft.
- UPS also pulled its financial guidance, citing the uncertain macroeconomic environment.
UPS plans to slash 20,000 jobs in 2025 as part of a cost-cutting drive.
The move comes as the shipping giant grapples with soft demand, especially from its largest customers. UPS said it will also look to close 73 facilities by the end of June.
“With our action, we will emerge as an even stronger, more nimble UPS,” CEO Carol Tomé said in a statement on Tuesday.
The company said it will save $3.5 billion in 2025 through the cuts.
UPS made the announcement alongside its Q1 2025 earnings report, which showed a slight revenue dip to $21.5 billion — down 0.7% from the same period last year — while adjusted operating profit inched up 0.9% to $1.7 billion.
The parcel giant also pulled its financial guidance for the year, saying that uncertainty around the impact of Trump’s tariffs meant it could not provide forecasts.
“Given the current macro-economic uncertainty, the company is not providing any updates to its previously issued consolidated full-year outlook,” the company said.
More follows.
