UPS Slashes 34,000 Jobs, Beats Q3 Estimates in Turnaround Push
On October 28, 2025, Atlanta-based United Parcel Service Inc. delivered a jolt to Wall Street: third-quarter adjusted earnings of $1.74 per share crushed analyst forecasts of $1.30, while revenue hit $21.4 billion against expectations of $20.83 billion. The stronger-than-expected results triggered a 12% pre-market surge in UPS stock—the biggest single-day jump since 2020. At the heart of the beat lies an aggressive turnaround plan that has already eliminated 34,000 jobs year-to-date—70% above the 20,000 cuts announced in April—and shuttered daily operations at 93 facilities. CEO Carol Tomé framed the overhaul as “the most significant strategic shift in our company’s history,” designed to wean UPS off low-margin Amazon volume and reposition for profitable growth ahead of peak holiday season. The moves have already unlocked $2.2 billion in cost savings, with management targeting $3.5 billion for full-year 2025.
