UPS Calls Restructuring Complete in Q2 2026, Closing 14,000-Job-Cut Chapter

UPS's July 28 Q2 2026 earnings are the first to describe its transformation and roughly 14,000-job-cut program as completed, not ongoing. Transformation 2.0 finished in 2025; Fit to Serve's cuts now roll off the books. Expect the gap between GAAP (standard accounting) and adjusted margins to narrow as restructuring charges fade.