(RTTNews) - United Parcel Service, Inc. (UPS) is planning to reduce up to 30,000 operational roles this year, according to multiple media reports citing chief executive officer Brian Dykes's announcement during the company's post-earnings conference call.
"In terms of variable costs, we expect to reduce operational positions by up to 30,000," Dykes commented. "This will be accomplished through attrition, and we expect to offer a second voluntary separation program for full-time drivers."
The strategic decision comes as the Georgia-based company is winding down its partnership with Amazon (AMZN), and preparing for a multi-year turnaround plan, which aims to revitalize the business.
Currently, UPS is moving up 2.75 percent, to $109.90 on the New York Stock Exchange.
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