UPS to Cut 30,000 More Jobs, Close Facilities as Amazon Volume Declines; Shares Rise

• UPS announced plans to eliminate up to 30,000 jobs and close 24 facilities by 2026, following 48,000 job cuts and 93 facility closures in 2025.
• The job reductions are primarily due to reduced delivery volumes for Amazon, as UPS shifts focus to more profitable business segments.
• The company's shares rose 4% after reporting better-than-expected fourth-quarter results and forecasting an increase in annual revenue.
• Job cuts will occur through attrition and a buyout offer for full-time drivers, with no layoffs planned, according to CFO Brian Dykes.
• UPS is also stabilizing volumes after the end of US duty-free e-commerce shipments from China-linked retailers like Shein and Temu.

Why It Matters: UPS is strategically cutting jobs and facilities to boost profitability amid declining Amazon delivery volumes.