UPS is embarking on a significant overhaul of its operations, with plans to cut 20,000 jobs and close 73 facilities by June 2025, aiming for $3.5 billion in savings. This restructuring is driven by sluggish demand from major customers, exacerbated by an uncertain macroeconomic climate which has led the company to withdraw its financial guidance. CEO Carol Tomé emphasized that these changes are essential for UPS to remain competitive and agile in the evolving market landscape.
UPS plans to cut 20,000 jobs in 2025 as part of a major restructuring to reduce costs and improve efficiency, amid soft market demand.
The company aims to save $3.5 billion through this reorganization, which will include closing 73 facilities by mid-2025.
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