UPS MASSIVE Layoff: 20,000 Jobs To Be Cut, 73 Facilities To Be Shut Down
New Delhi: United Parcel Service (UPS) has said that it will be slashing 20,000 jobs, shutting down 73 facilities amidst new global trade tariffs announced by US President Donald Trump's. The layoffs are also a part of the logistics company's planned reduction in deliveries for Amazon.com.
"We expect to reduce our operational workforce by approximately 20,000 positions during 2025 and close 73 leased and owned buildings by the end of June 2025. We are continuing to review our network and may identify additional buildings for closure," UPS said in its first quarter earnings report on April 29.
As of March 31, 2025, we continue to evaluate the impact of expected changes in volume on our air network. We anticipate $3.5 billion of total cost savings will be delivered from Network Reconfiguration and Efficiency Reimagined in 2025," UPS said.
The company announced first-quarter 2025 consolidated revenues of $21.5 billion, a 0.7% decrease from the first quarter of 2024.
Consolidated operating profit was $1.7 billion, up 3.3% compared to the first quarter of 2024, and up 0.9% on a non-GAAP adjusted basis. Diluted earnings per share were $1.40 for the quarter; non-GAAP adjusted diluted earnings per share were $1.49, 4.2% above the same period in 2024, UPS said.
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