United Parcel Service on Tuesday said it would cut up to 30,000 operational roles in 2026, adding to last year’s job reductions as the delivery giant looks to accelerate a turnaround fueled by a pivot to higher-margin shipments.
The company also beat Wall Street estimates for quarterly results in the all-important holiday period and forecast a surprise rise in annual revenue.
UPS in January last year said it would accelerate a plan to slash millions of low-profit deliveries for Amazon, its largest customer and a growing delivery rival, calling the business “extraordinarily dilutive” to margins.
The workforce reduction will “be accomplished through attrition and we expect to offer a second voluntary separation program for full-time drivers”, chief financial officer Brian Dykes said on a post-earnings call.
The company’s shares were down 1% in premarket trading.