UPS cut approximately 34,000 jobs during the first nine months of 2025 as part of its turnaround plan.
The company also closed daily operations at 93 leased and owned buildings and is evaluating additional facility closures.
By the numbers: UPS reported third-quarter earnings of $1.31 billion, or $1.55 per share, down from $1.99 billion, or $1.80 per share, a year earlier.
- Adjusted earnings per share were $1.74, exceeding Wall Street estimates of $1.31 per share.
- Revenue for the quarter totaled $21.42 billion, surpassing expectations of $20.84 billion.
Driving the news: The job cuts and closures align with UPS’s strategy to reduce the volume of Amazon shipments handled, following a deal to cut shipments by over 50% by mid-2026.
- The company had previously announced plans in April to cut 20,000 jobs and close more than 70 facilities by June 2025.
- UPS CEO Carol Tomé noted the company has been reassessing its nearly 30-year partnership with Amazon after the contract renewal this year.
Zoom in: The workforce reductions and facility shutdowns have helped UPS realize approximately $2.2 billion in cost savings year-to-date, with expected total 2025 savings of $3.5 billion.
