UPS delivery drivers offered buyouts amid 'unique circumstances'

article

A UPS delivery truck seen in Manhattan. (Photo by Erik McGregor/LightRocket via Getty Images)

ATLANTA - United Parcel Service is offering a voluntary separation package to its full-time U.S. drivers as the company undergoes what it describes as the largest network reconfiguration in its history.

What we know:

The program offers $1,800 for each year of service at UPS, with a guaranteed minimum payment of $10,000. The payout is in addition to any retirement benefits already earned, including pension and healthcare.

UPS emphasized that it remains committed to honoring the labor agreements reached in 2023 with the Teamsters union, with whom it has maintained a century-long relationship.

What they're saying:

The move, announced Friday, marks the first time the Atlanta-based UPS has extended such an offer, which the company says reflects the "unique circumstances" it is navigating in today’s business environment.

"For the first time ever, in recognition of these unique circumstances, we are offering our full-time U.S. drivers the opportunity to participate in a voluntary program that provides an opportunity to receive a generous financial package if they choose to leave UPS," the company said in a statement. "Each driver has the ability to decide if this voluntary program is beneficial to their family and the plans they have for their future."

"Our Driver Voluntary Separation Program recognizes the commitment and dedication of our drivers, giving them the choice to participate in a voluntary program that supports their families and future goals," the company said.

The company reaffirmed its dedication to reliable, industry-leading service during the restructuring process.

Why you should care:

UPS employs more than 10,000 full-time drivers who have served 25 years or more.