UPS plans to lay off about 20,000 workers in 2025 due to new tariffs and economic changes.
The company also announced it will close 164 facilities by the end of the year. In its first-quarter earnings report, UPS said it made $21.5 billion in revenue, slightly down from last year.
The job cuts are part of a broader effort to adjust to economic challenges, including the impact of tariffs.
UPS employed around 490,000 people worldwide in 2024.
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