United Parcel Service (UPS) slashed more than 48,000 jobs and closed 93 leased and owned buildings in 2025 as part of the company's "transformation strategy."
In the first nine months of 2025, the company said it cut 34,000 positions from its operational workforce, 14,000 positions primarily in management and closed 93 leased and owned buildings.
"Our transformation strategy activities have spanned several years and are designed to fundamentally change the spans and layers of our organization structure, processes, technologies and the composition of our business portfolio," the company said.
The company said it has saved approximately $2.2 billion this year as a result of the cuts and expects to save $3.5 billion total year-over-year.
UPS announced in an earnings report it continues "to review expected changes in volume," in air and ground networks "to identify additional buildings for closure."
But the cuts aren't a complete indicator of the company's financial health.
In fact, the company's Q3 results topped Wall Street's expectations with ease.
According to AP News , Wall Street estimated $20.84 billion in UPS revenue for year over year earnings and UPS Q3 results show $21.42 billion.
"I want to extend my gratitude to all UPSers for their dedication and steadfast commitment to serving our customers," Carol Tomé, the UPS chief executive officer, said in a statement.
She added the company is "executing the most significant strategic shift," in its history as its efforts are "designed to deliver long-term value for all stakeholders."
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