United Parcel Service (UPS) began the year with nearly half a million employees but has since cut about 48,000 jobs in a major cost-cutting push to boost profits, remain competitive, and regain investor confidence.
In its third-quarter earnings report released Tuesday, Oct. 28, 2025, the Atlanta-based logistics giant said it had reduced its operational workforce by roughly 34,000 positions through its Network Reconfiguration and Efficiency Reimagined program.
The company eliminated another 14,000 roles, primarily in management, under its Fit to Serve initiative, which began last year to “right-size” operations and build a more efficient, market-responsive business model.
“I want to extend my gratitude to all UPSers for their dedication and steadfast commitment to serving our customers,” CEO Carol Tomé said in a statement. “We are executing the most significant strategic shift in our company’s history, and the changes we are implementing are designed to deliver long-term value for all stakeholders.”
UPS reported net income of $1.3 billion for the quarter, down from $1.5 billion a year earlier, on revenue of $21.4 billion, compared with $22.2 billion in the same period last year.
The company has also been hit by tariffs imposed this year by President Donald Trump with the volume of packages coming into the U.S. dropping significantly, reports The New York Times. However, news of the job cuts and stronger-than-expected third-quarter results sent the company’s stock up 7% on Oct. 28.
“With the holiday shipping season nearly upon us, we are positioned to run the most efficient peak in our history while providing industry-leading service to our customers for the eighth consecutive year,” Tomé said, per the earnings report.
UPS Layoffs Mirror Moves By Amazon and Target As Companies Streamline Operations
With global job growth stalling, several major companies are turning to layoffs to reduce costs and refocus operations.
In what marks Target’s first major round of layoffs in over a decade, incoming CEO Michael Fiddelke announced in an Oct. 23, 2025, memo that the company will cut 1,800 corporate jobs — an 8% reduction of its corporate workforce, AFROTECH™ previously reported. Affected employees were expected to receive notice on Tuesday, Oct. 28.
Fiddelke said the retailer aims to reignite growth after four years of stagnant sales. According to CNBC, a Target spokesperson said the cuts include about 1,000 layoffs and 800 unfilled positions to be eliminated.
Also on Oct. 28, AFROTECH™ reported that Amazon plans to lay off about 14,000 employees — roughly 4% of its corporate workforce — as it expands the use of AI technologies. The cuts, set to begin this week, are part of a broader push to simplify operations and help the company adapt more quickly to technology-driven changes.
Reuters reported the total number of Amazon layoffs could reach 30,000, though the company has not confirmed that estimate, AFROTECH™ noted. Most affected employees will have 90 days to apply for internal roles, with severance pay and benefits provided to those unable to secure new positions.
