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A UPS worker delivers packages in San Francisco on April 28. Photo: David Paul Morris/Bloomberg via Getty Images
UPS will cut 20,000 jobs, or 4% of its workforce, and close more than 70 buildings to offset a planned drop in Amazon packages and murky macroeconomic conditions.
Driving the news: UPS CEO Carol Tomé announced the cuts during a Tuesday investor call that covered the Sandy Springs, Georgia-based global shipping company’s thinking on tariffs, automation and more, the Atlanta Journal-Constitution reported.
Zoom in: The job cuts will be spread throughout the nearly 500,000-employee workforce, UPS CFO Brian Dykes said on the call.
- Two-thirds of the building closures would occur in the eastern U.S., he said, though he did not share specifics.
Catch up quick: UPS will reduce the number of Amazon packages it carries by more than 50% by the second half of next year, the company announced in January.
- The market-moving decision is part of the company’s new “better, not bigger” strategy, Tomé said.
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