Newsweek - United Parcel Service (UPS) is laying off thousands of front-line employees and shuttering dozens of facilities as part of what it calls the "largest network reconfiguration" in company history.
UPS confirmed Thursday that it would be offering voluntary buyouts to its union-represented U.S. drivers for the first time as part of this sweeping restructuring effort, aimed at increasing efficiency in response to a decline in package volumes.
UPS is the largest courier in the country, delivering an estimated 19 million packages in the U.S. every day. The leaner workforce could impact UPS's operational capacity and affect the businesses and everyday customers who rely on its services. However, the company has expressed its continued commitment to ensuring the same level of service and confidence in its ability to navigate changing industry trends.
The job cuts and buyout plan—which has sparked a confrontation with the Teamsters Union, representing over 300,000 UPS employees—are taking place against a backdrop of shifting trade dynamics that have created uncertainty across global supply chains.
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