UPS to cut 30,000 jobs
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UPS retires fleet of MD-11 planes
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UPS said it expects 2026 earnings per share to be about the same as 2025, which would snap a three-year streak of EPS declines.
UPS announced it will eliminate an additional 30,000 jobs as it winds down its partnership with Amazon.
The delivery company said it was planning the cuts this year because it expected to deliver fewer packages for Amazon, a large but unprofitable customer.
The company last January said it would accelerate a plan to slash millions of low-profit deliveries for Amazon, its largest customer and a growing rival.
UPS aims to cut up to 30,000 operational jobs by 2026 as part of major transformation strategy to optimize network operations and boost productivity.
UPS has fully retired its MD-11 fleet, booking a US$137m charge as it modernizes operations following the 2025 Louisville crash.
UPS reported fourth-quarter earnings per share of $2.38 from sales of $24.5 billion. Wall Street was looking for EPS of $2.20 from sales of $24 billion.