United Parcel Service said it has reduced its management workforce by about 14,000 positions so far this year and its operational workforce by 34,000 positions.

The company disclosed the workforce reductions for 2025 in an earnings statement to investors and analysts.

UPS said it is well positioned to navigate the coming holiday shipping season, and restructuring efforts have resulted in cost savings of about $2.2 billion so far this year.

Though third-quarter profit and revenue fell, results were better than expected. Shares rallied more than 12% in premarket trading.

Updates to follow as news develops

Write to Connor Hart at [email protected]

The pictures provided are directly from the Q1 Earnings Report on UPSers.com. A summary of the initiatives, objectives and subsequent layoffs are provided below:

1. transformation 2.0 • goal: cut management layers, update tech, and save on global costs • actions: reduced workforce, invested in new systems (pay, scheduling, financial tools) • cost: mostly employee compensation, benefits, and consultant fees • ends: in 2025

2. fit to serve • goal: make operations more efficient and responsive • actions: eliminated ~14,000 mostly management roles • ends: in 2025

3. network reconfiguration & efficiency reimagined • goal: streamline operations using automation and redesign processes • actions: • cut ~20,000 operational jobs in 2025 • close 73 buildings by june 2025 • redesign the process from start to finish • costs: $400–600 million in 2025 for closures, consultants, and separation benefits • savings: $3.5 billion expected • ends: in 2027