UPS plans to cut 20,000 jobs and close 73 facilities by mid-2025 as part of a network reconfiguration aimed at achieving $3.5 billion in cost savings. The company’s first-quarter revenue was $21.5 billion, a slight drop from the previous year, while operating profit rose by 3.3%. Despite a minor increase in U.S. domestic revenue, international revenue grew by 2.7%. CEO Carol Tomé emphasized the need for these changes to adapt to a shifting trade environment. The Teamsters union has expressed strong opposition to any violation of their contract regarding job cuts.

Source: https://www.stattimes.com/logistics/ups-to-cut-20000-jobs-q12025-revenue-flat-1355133