UPS Q2 2026 Results Describe Restructuring as Completed, Signaling End of 14,000-Job-Cut Program

UPS's July 28 Q2 2026 earnings mark the first period in which the company's transformation and workforce-reduction initiatives are described as recently completed rather than ongoing. The program, including Transformation 2.0 (finished 2025) and Fit to Serve's ~14,000 job cuts, now moves off the books. Expect the GAAP-versus-adjusted margin gap to narrow as charges taper.