United Parcel Service Inc. shares soared after it smashed Wall Street’s profit expectations by cutting costs and eliminating 34,000 jobs this year.
The cuts to its permanent operational workforce — a group that includes drivers and package handlers — marked a 70% increase from its previous target. As part of the sweeping cost-savings initiative, UPS has closed daily operations at 93 leased and owned buildings in 2025, according to a statement Tuesday.
The results suggest Chief Executive Officer Carol Tomé’s revival efforts are gaining traction after UPS struggled with slow demand, high expenses and uncertainty fueled by tariffs. ...
