THOUSANDS of UPS workers are going to be out of a job after the shipping giant announced it would be slashing over 70 operations.
The package delivery company is axing 20,000 positions this year, citing deepening economic woes and fading demand from its biggest customer.
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The sweeping cuts will hit 73 facilities across the US, with closures set to be completed by June.
The move comes as UPS reels from the fallout of President Trump’s global trade tariffs, which have shaken up markets and driven up shipping costs.
“We’re facing massive disruptions we haven’t seen in a century,” CEO Carol Tomé said during the earnings call.
“The macro environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS,” she added.
The company is also planning to close a total of 73 facilities this year as part of a broader cost-cutting push.
UPS expects the downsizing to shave $3.5 billion off its expenses in 2025.
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