The investors — Macellum Advisors, Ancora Holdings, Legion Partners Asset Management and 4010 Capital — are pushing for changes due to market share losses, stagnating sales and shrinking profit margins over the past decade.
The company said the job cuts would likely save it about $65 million in annual expenses, and were part of its broader plan to reduce costs by more than $100 million.
UPS expects this year’s peak season to extend from October to January — one month longer than last year — as retailers prep for their earliest-ever kickoff.
