United Parcel Service (UPS) has eliminated 34,000 operational jobs as part of an extensive cost-cutting and restructuring effort, the company said on Oct. 28. That is a far larger reduction than the 20,000 layoffs announced earlier this year.
The shipping and logistics giant said in its third-quarter earnings report that it has also closed 93 leased and owned facilities through September under its ongoing “Network Reconfiguration” and “Efficiency Reimagined” programs. UPS described the moves as the most significant operational changes in its history.
