UPS plans to slash 20,000 jobs in 2025 as a part of a cost-cutting drive.
The transfer comes because the delivery large grapples with smooth demand, particularly from its largest clients. UPS mentioned it can additionally look to shut 73 amenities by the tip of June.
“With our motion, we are going to emerge as an excellent stronger, extra nimble UPS,” CEO Carol Tomé mentioned in a press release on Tuesday.
The corporate mentioned it can save $3.5 billion in 2025 by means of the cuts.
UPS made the announcement alongside its Q1 2025 earnings report, which confirmed a slight income dip to $21.5 billion — down 0.7% from the identical interval final yr — whereas adjusted working revenue inched up 0.9% to $1.7 billion.
The parcel large additionally pulled its monetary steering for the yr, saying that uncertainty across the affect of Trump’s tariffs meant it couldn’t present forecasts.
“Given the present macro-economic uncertainty, the corporate will not be offering any updates to its beforehand issued consolidated full-year outlook,” the corporate mentioned.
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