UPS cuts jobs and closes facilities due to tariffs and trade disruptions, saving $3.5 billion.

From Quiver Quantitative LLC: 2025-04-29 21:26:00

UPS announced plans to cut 20,000 jobs and close 73 facilities in response to tariff-driven trade disruptions, becoming the first major U.S. company to do so. CEO Carol Tomé cited unprecedented trade shocks, prompting a network reconfiguration and asset divestitures. Despite exceeding Q1 profit expectations, UPS withdrew full-year guidance due to macroeconomic uncertainty. The restructuring aims to save $3.5 billion in 2025. Investors are watching for the company’s ability to navigate trade impacts and restore confidence as global trade and e-commerce volumes face challenges.



Read more at Quiver Quantitative LLC: UPS (UPS) Trims 20,000 Jobs Amid Amazon (AMZN) Slowdown and Tariff Pressures