The Big Changes Ahead for UPS

A major delivery company is planning to let go of about 20, 000 employees by 2025. This move is part of a bigger plan to save money and boost profits. The company blames changes in global trade rules and new taxes for this decision. The news came out in a recent report about the company's earnings. It showed that the company made just over 21 billion dollars in the first three months of the year. This is a tiny bit less than what it made in the same time last year. The company also said it will close 73 buildings by the end of June. The head of the company said these steps are needed to make the company stronger and more flexible. The company has almost 500, 000 employees. Many of them are part of a big union. Last year, the company cut 12, 000 jobs. This time, the job cuts will mainly affect people who sort and deliver packages. The job cuts are happening because some customers are shipping fewer goods. This is due to new taxes that make shipping more expensive. The company did not give any updates about future earnings because of all the uncertainty. The company also plans to make more changes to its buildings and workforce. This is because one of its biggest customers, Amazon, is expected to ship fewer packages. The union that represents many of the company's employees said the company is breaking its contract. The union said it will fight if the company tries to cut too many jobs. The union leader said the company can cut management jobs, but not the jobs of its members. This is a tough time for the company. It has to deal with changes in the world economy and new taxes. It also has to deal with a big union and a major customer that is changing its own business. The company has to make big changes to stay strong and profitable. It will be interesting to see how these changes affect the company and its employees.