UPS to cut 12,000 jobs as shipping volume falls and labor costs rise

UPS plans to cut 12,000 jobs as demand for package delivery stagnates, executives said Tuesday.

The layoffs will eliminate around 2.4 percent of UPS’s global workforce of roughly 495,000, with about 75 percent of the job reductions coming in the first half of 2024. Executives said they don’t expect those jobs to return.

“It’s a change in the way we work,”…