So It Begins: Trump's Economy In Decline. UPS Announces 20,000 Job Cuts, 73 Facility Closures Amid Fewer Amazon Shipments

UPS announced that it plans to reduce its workforce by about 20,000 employees and close 73 facilities, the company said when announcing its financial statement for the first quarter of 2025.

The reduction of 20,000 employees represents 4% of the company's workforce.

The workforce reduction comes amid a period of uncertainty for UPS. The company did not provide an update to its 2025 projections when releasing its quarterly earnings.

“I want to thank all UPSers for their hard work and efforts in this very dynamic environment,” said Carol Tomé, UPS CEO. “As a trusted leader in global logistics, we will leverage our integrated network and trade expertise to assist our customers as they adapt to a changing trade environment. Further, the actions we are taking to reconfigure our network and reduce costs across our business could not be timelier. The macro environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS.”
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