Key Takeaways UPS is cutting 20,000 jobs and closing 73 facilities to reduce costs and offset soft parcel demand. The company is offering buyouts to full-time delivery drivers for the first time in its 117-year history. A deal to cut Amazon volume by 50% by 2026 also influenced UPS's workforce reduction plans.It is no secret that United Parcel Service’s (UPS) bottom line is being hurt by high costs, mainly on the labor front. High labor costs, in addition to softness concerning parcel volumes, are hurting ...