UPS and U.S. Postal Service announce significant job cuts. What you need to know

The U.S. Postal Service and UPS are facing significant job cuts, with UPS set to eliminate 20,000 positions, representing about 4% of its workforce, as part of an extensive cost-reduction strategy. This move comes amid challenges from tariffs and digital advancements affecting traditional delivery methods. UPS's chief executive indicated a comprehensive reconfiguration of its operational network, aiming to enhance productivity and efficiency through increased automation. The Teamsters union, which represents many UPS workers, is committed to opposing any job cuts that contradict existing agreements about job creation.

"We are executing the largest network reconfiguration in UPS history. This strategic initiative will optimize the capacity of our network to align with expected volume levels and enhance productivity through additional automation."

"The macro environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS," said UPS Chief Executive Carol Tomé.

Read at Los Angeles Times