UPS Jumps After Sweeping Job Cuts Push Profit Above Estimates

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.