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| Economy |
| One of America's most important companies slashes 20,000 jobs and offers huge buyouts |
| 2025-07-04 |
| [Daily Mail, where America gets its news] UPS is offering voluntary buyouts to its full-time US drivers following its decision to slash 20,000 jobs and close 73 facilities. The Atlanta-based company will be providing its laid off employees with various benefits, including pensions and healthcare. The layoffs are part of UPS's network configuration plan, which also confirms the upcoming closures of over 90 more facilities in the future. The changes are part of the company's $3.5 billion cost reduction target for 2025, aiming to reach a 12 percent US operational margin by next year. UPS, which is one of the largest parcel delivery companies in the US, currently has 490,000 employees, around 330,000 of which are represented by the Teamsters union. The union was the first to announce the buyout, calling it an 'illegal violation' of the national contract in which UPS committed to create 22,500 jobs. 'Our members cannot be bought off and we will not allow them to be sold out. UPS needs to live up to the existing contract. They must honor their commitments,' said Sean O'Brien, general president of the union. The announcement comes months after UPS decided to halve the number of Amazon deliveries it takes before tariffs imposed by President Donald Trump took effect. Deliveries for the e-commerce giant make up around 12 percent of UPS's revenue. The company concluded that its profit margins from Amazon deliveries profit were too small, and it wanted to focus on other markets like healthcare and international deliveries. 'The world has not been faced with such enormous potential impacts to trade in more than 100 years,' said CEO Carol Tomé. Prior to these massive layoffs, UPS axed 12,000 employees and closed 11 facilities last year after its income declined by $1.87 billion due to its 'disappointing year' in 2023. Those layoffs came less than six months after UPS and Teamsters reached a $30 billion deal with its 340,000 person-union, avoiding a potential strike. 'The actions we are taking to reconfigure our network and reduce cost across our business could not be timelier,' Tomé said. 'The macro environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS.' Related: UPS 05/25/2025 Day 4: Did 'Free Palestine' Terrorist Get Support from Goldman Sachs and China? UPS 05/03/2025 Nigeria appoints new commander after renewed militant attacks in northeast UPS 04/30/2025 UPS cutting 20K jobs due to fewer Amazon shipments |
| Posted by:Skidmark |
| #7 Long haul two driver union requirements double that when you take your girlfriend. |
| Posted by: Skidmark 2025-07-04 12:21 |
| #6 intro wages are $25-30/hour and no CDL is required of course you have to be able to lift 50 or 70 pounds, be drug free, speak english and a few other things with seniority and overtime some drivers make well over $100k |
| Posted by: Lord Garth 2025-07-04 12:03 |
| #5 Indeed. Outsourcing has been very bad for this country but a great deal of the blame can be laid at the feet of the unions. |
| Posted by: Abu Uluque 2025-07-04 11:33 |
| #4 Lost 3 jobs in the 70's due to UNIONS. 2 were, when a union went on a long strike at a place that supplied parts to where I was working. The 3rd when the union started organizing and the company did the math, just said screw it, shutdown and moved to Mexico. NAFTA & constant TAX increases and give more for votes, help kill the rest of the production industry in the USA. |
| Posted by: NN2N1 2025-07-04 09:07 |
| #3 Remember the celebrated Teamster's contract win? Other side of that coin. |
| Posted by: ed in texas 2025-07-04 08:09 |
| #2 Their union contract read like a suicide pact. Reality has been delivered. |
| Posted by: Super Hose 2025-07-04 06:51 |
| #1 Been finding using Fedx 2+ day cheaper, faster more likely to arrive on time. Than using UPS to send reports & documents. |
| Posted by: NN2N1 2025-07-04 02:31 |