UPS has eliminated 34,000 jobs this year, partially due to voluntary buyouts for drivers.

UPS has reduced its workforce by approximately 34,000 and closed 93 facilities as part of a network overhaul, driven by a significant decrease in package volume from Amazon, which fell 21.2% year-over-year. The company implemented a voluntary buyout program for drivers, costing $175 million, which CEO Carol Tomé deemed successful. UPS anticipates total cost savings of $3.5 billion by year-end and is focusing on enhancing efficiency through automated systems, aiming for 66% of volumes to move through these processes in Q4.