UPS to Offer First-Ever Buyouts to Union Delivery Drivers

United Parcel Service Inc. plans to offer voluntary buyouts to union-represented delivery drivers for the first time in the company’s history as part of an effort to boost profit by slimming down its operations.

Drivers would receive “a generous financial package if they choose to leave UPS,” in addition to any earned retirement benefits, including pension and health care, the company said in a statement on Thursday.