ATLANTA — UPS has slashed tens of thousands of jobs, more than double what it initially had said it would.
The United Parcel Service had said it planned on cutting 20,000 jobs, but this year it has cut 14,000 management jobs and 34,000 people in the operational portion of the company.
The job eliminations were part of the company’s “Fit to Serve initiative,” according to a news release.
“We undertook our Fit to Serve initiative with the intent to right-size our business to create a more efficient operating model that was more responsive to market dynamics through a workforce reduction of approximately 14,000 positions, primarily within management. We expect any remaining costs to be incurred during the remainder of 2025,” the company said.
In addition to the 48,000 jobs lost, the company also closed 93 leased and owned buildings this year and will identify more locations to close because of “expected changes in volume” in the company’s air and ground network as part of the “Network Reconfiguration and Efficiency Reimagined” initiative, which accounted for the operations job cuts.
The company said the cuts came after prioritizing investments and competition changes, as well as inflation, changes in consumer habits and post-COVID normalization.
The labor announcement was made as part of UPS’s third-quarter earnings release.
Check back for more on this developing story.
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