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UPS is cutting 20,000 jobs. It's not what you think | CNN Business

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UPS will cut 20,000 jobs this year, about 4% of its global workforce, the company said Tuesday. But UPS added the decision is unrelated to tariffs and is instead due to increased use of technology and a previously announced plan to trim its Amazon business.
In April 2025, UPS announced it would cut 12,000 jobs and explore strategic options for its Coyote truckload brokerage business as part of a broader effort to reduce costs by $1 billion. The job cuts, which represent about 2.4% of UPS's global workforce, are aimed at streamlining operations and improving efficiency amid declining package volumes and increasing competition. CEO Carol Tomé emphasized that these measures are necessary to adapt to the current market conditions and position the company for long-term success. The announcement led to a slight increase in UPS's stock price, reflecting investor confidence in the company's strategy to navigate the challenging economic environment.

Read the Full CNN Article at:
[ https://www.cnn.com/2025/04/29/business/ups-job-cuts/index.html ]