US EditionUPS cut 34,000 jobs in first nine months of 2025
- On Oct 28, United Parcel Service, Inc. posted better-than-expected third-quarter results with consolidated revenue of $21.41 billion and adjusted diluted EPS of $1.74.
- Chief Executive Officer Carol Tomé accelerated a turnaround that cut about 34,000 jobs and closed daily operations at 93 leased and owned buildings in the first nine months of 2025.
- Financial details show consolidated operating profit was $1.8 billion, or $2.1 billion adjusted, with an adjusted consolidated operating margin of 10% and about $2.2 billion in cost savings through the first nine months of 2025.
- UPS expects fourth-quarter revenue of about $24 billion and an adjusted operating margin between 11% and 11.5%, while shares surged more than 12% in premarket trading.
- Labor contract issues mean high costs persist partly due to 330,000 International Brotherhood of Teamsters members, while tariff and 'de minimis' changes hurt international volumes amid rising AI and competition pressures.
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UPS Layoffs: 34,000 workers laid off in first 9 months of 2025 amid turnaround efforts
The 34,000 eliminated jobs marked a 70 per cent increase from its previous target. UPS had in April said it was planning to lay off 20,000 of its employees as part of its turnaround plan.
UPS cuts 34K jobs in year to date amid turnaround
United Parcel Service posted third-quarter results that handily beat Wall Street's expectations and gave details about its turnaround efforts, including approximately 34,000 job cuts. Shares surged nearly 8% in midday 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…
UPS cut more jobs than expected this year, shrinking its workforce by 34,000 jobs - businessinsider.com
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Associated Press News
UPS cuts 34,000 jobs in the year to date as its turnaround continues
United Parcel Service posted third-quarter results that handily beat Wall Street’s expectations and gave details about its turnaround efforts, including approximately 34,000 job cuts.
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