United Parcel Service has slashed 48,000 jobs this year — one of the largest single-year reductions by a US company since the pandemic — as the package giant scrambled to contain costs and revive its lagging stock price.

The Atlanta-based delivery behemoth disclosed the reductions Tuesday while reporting third-quarter earnings that beat Wall Street expectations.

UPS said 34,000 of the cuts hit drivers and warehouse operations, while 14,000 targeted management.

The company employed about half a million people at the start of the year, the New York Times noted .

Chief Executive Carol Tomé said the job losses, a mix of layoffs and buyouts, were part of a restructuring aimed at positioning UPS to be at “the most efficient peak in our history.”

“We are executing the most significant stra

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