UPS cuts 48,000 jobs in the year to date as its turnaround continues

WHICH AT THIS POINT IS SET FOR AUGUST 1ST. RIGHT NOW, IT’S JUST PRACTICE PICKETING, BUT IN LESS THAN TWO WEEKS IT WILL BE FOR REAL, UNLESS SOMETHING CHANGES. WHAT THESE GUYS ARE DOING IS THEY’RE STANDING UP FOR THEMSELVES TO GET A BETTER LIVING WAGE, BETTER BENEFITS, BETTER WORKING CONDITIONS, BACK IN AUGUST OF 97, WORKERS WENT ON STRIKE. THAT STRIKE LASTED 15 DAYS AND ENDED UP COSTING THE COMPANY HUNDREDS OF MILLIONS OF DOLLARS. THE BIG ISSUE THIS TIME AROUND, IT’S ABOUT A PART TIMERS LIKE GENERAL PRESIDENT SEAN O’BRIEN HAS BEEN SAYING WE’RE TRYING TO RAISE THE LIVING WAGE FOR THE PART TIMERS. UPS DELIVERS TENS OF MILLIONS OF PACKAGES A DAY, ACCORDING TO THE COMPANY AND EXPERTS SAY THE IMPACT ON THE ECONOMY WOULD BE MEASURED IN BILLIONS. THE CONTRACT TALKS STALLED EARLIER THIS MONTH. UPS SAYING IN PART UNTIL NEGOTIATIONS AT THE TABLE RESUME. WE CONTINUE TO EMPHASIZE THE IMPORTANCE OF REACHING A TENTATIVE AGREEMENT BEFORE AUGUST FIRST. IF THE STRIKE HAPPENS. 340,000 WORKERS WOULD WALK OFF THE JOB. THE COMPANY SAYS THEY HAVE BEGUN PREPARING FOR THAT BY TRAINING OTHERS TO DO THEIR JOBS. IT’S NOT A GOOD IDEA THAT WE’LL DEAL WITH THAT WHEN IT HAPPENS. STILL, WORKERS ARE HOLDING OUT HOPE THAT A STRIKE WON’T BE NECESSARY, ALTHOUGH TIME IS RUNNING OUT, DEADLINES GET STUFF DONE. THE UNION SAYS THEY’LL PRACTICE PICKETING IN VARIOUS LOCATIONS AROUND NEW HAMPSHIRE RIGHT NOW, THEY’RE SET TO DO IT TOMORROW IN NA

Updated: 2:00 PM CDT Oct 28, 2025

Editorial Standards ⓘ

UPS cuts 48,000 jobs in the year to date as its turnaround continues

Updated: 2:00 PM CDT Oct 28, 2025

Editorial Standards ⓘ

United Parcel Service posted third-quarter results that handily beat Wall Street's expectations and gave details about its turnaround efforts, including approximately 48,000 job cuts.File video above: UPS workers prepare to go on strikeShares rose more than 7% in afternoon trading on Tuesday.UPS earned $1.31 billion, or $1.55 per share, for the three months ended Sept. 30. The Atlanta-based company earned $1.99 billion, or $1.80 per share, a year earlier. Removing one-time costs, earnings were $1.74 per share.That easily topped the $1.31 per share that analyst polled by Zacks Investment Research were calling for.Revenue totaled $21.42 billion, surpassing Wall Street's estimate of $20.84 billion.UPS said in a regulatory filing that it has cut about 34,000 operational positions and closed daily operations at 93 leased and owned buildings during the first nine months of this year as part of its turnaround plan. The company also announced approximately 14,000 job cuts, mostly within management. It said that it is still looking to identify additional buildings to close.In April UPS announced that it was looking to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the number of Amazon shipments it handles. At the time, the company said that it anticipated closing 73 leased and owned buildings by the end of June. The company noted that it was still reviewing its network and might identify more buildings to be shuttered.In January UPS announced that it had reached a deal with Amazon, its biggest customer, to lower its volume by more than 50% by the second half of 2026.During UPS’ fourth-quarter earnings conference call in January, CEO Carol Tomé said that the company had partnered with Amazon for almost 30 years and that when its contract came up this year, UPS decided to reassess the relationship.UPS has realized cost savings of approximately $2.2 billion as of Sept. 30. It anticipates achieving $3.5 billion total year over year cost savings in 2025.

United Parcel Service posted third-quarter results that handily beat Wall Street's expectations and gave details about its turnaround efforts, including approximately 48,000 job cuts.

File video above: UPS workers prepare to go on strike

Shares rose more than 7% in afternoon trading on Tuesday.

UPS earned $1.31 billion, or $1.55 per share, for the three months ended Sept. 30. The Atlanta-based company earned $1.99 billion, or $1.80 per share, a year earlier. Removing one-time costs, earnings were $1.74 per share.

That easily topped the $1.31 per share that analyst polled by Zacks Investment Research were calling for.

Revenue totaled $21.42 billion, surpassing Wall Street's estimate of $20.84 billion.

UPS said in a regulatory filing that it has cut about 34,000 operational positions and closed daily operations at 93 leased and owned buildings during the first nine months of this year as part of its turnaround plan. The company also announced approximately 14,000 job cuts, mostly within management. It said that it is still looking to identify additional buildings to close.

In April announced that it was looking to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the number of Amazon shipments it handles. At the time, the company said that it anticipated closing 73 leased and owned buildings by the end of June. The company noted that it was still reviewing its network and might identify more buildings to be shuttered.

In January UPS announced that it had reached a deal with Amazon, its biggest customer, to lower its volume by more than 50% by the second half of 2026.

During UPS’ fourth-quarter earnings conference call in January, CEO Carol Tomé said that the company had partnered with Amazon for almost 30 years and that when its contract came up this year, UPS decided to reassess the relationship.

UPS has realized cost savings of approximately $2.2 billion as of Sept. 30. It anticipates achieving $3.5 billion total year over year cost savings in 2025.

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