UPS to Cut 30,000 Jobs, Close 24 Facilities in 2026

United Parcel Service Inc., the world's largest package delivery company, announced plans Tuesday to eliminate up to 30,000 jobs and close 24 facilities in 2026 as it completes a strategic reduction in Amazon deliveries by more than half. The moves, part of a broader network overhaul, follow strong fourth-quarter results that exceeded Wall Street expectations and come after significant cuts in 2025.

UPS reported fourth-quarter revenue of $24.5 billion, a 3.2 percent decline from the previous year but above analyst estimates of $24.01 billion. Adjusted earnings per share reached $2.38, surpassing forecasts of $2.20, while net profit rose to $1.79 billion, or $2.10 per share, from $1.72 billion, or $2.01 per share, a year earlier. The results included charges such as a $137 million write-off for retiring the company's MD-11 aircraft fleet, completed during the quarter after a November crash involving one of the planes that killed at least 12 people. Shares of UPS climbed about 4 percent in midday trading in New York following the announcement.

The job reductions, representing roughly 6 percent of UPS's global workforce of approximately 490,000 employees, will primarily affect...