The United Parcel Service (UPS) said Tuesday that it will cut approximately 20,000 jobs in 2025 as part of a longer-term initiative to boost efficiency and lower costs.
UPS also said it plans to close 73 leased or owned buildings by the end of June, and “may identify additional buildings for closure” as officials review the network.
The announcement comes as President Trump’s sweeping tariffs are expected to reduce shipping volume. In anticipation of that shift, UPS has focused its cost-cutting efforts on consolidating facilities and the workforce and reconfigure the network’s “end-to-end process.”
The shipping giant said it would not update its full-year outlook for 2025 because of “the current macro-economic uncertainty.”
“I want to thank all UPSers for their hard work and efforts in this very dynamic environment,” UPS Chief Executive Officer Carol Tomé said in a statement, announcing the company’s first quarter earnings.
“As a trusted leader in global logistics, we will leverage our integrated network and trade expertise to assist our customers as they adapt to a changing trade environment,” Tomé continued. “Further, the actions we are taking to reconfigure our network and reduce cost across our business could not be timelier.”
“The macro environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS,” she added.
