--- --- May 30, 2024 # UPS by [Nik Popli](https://time.com/author/nik-popli/) ## Nik Popli Staff Writer  UPS CEO Carol B. Tomé UPS CEO Carol B. ToméCourtesy of UPS After missing Wall Street revenue expectations at the end of 2023, UPS rebounded in a big way this April by securing the U.S. Postal Service’s highly coveted and lucrative air-delivery contract, which runs through 2030\. The company beat out its main competitor FedEx, which held the contract for the past 20 years and received about $2 billion from USPS annually. Investors are feeling optimistic: UPS’s most recent quarterly profits surpassed expectations despite weaker package-delivery demand as the company weathers the transition out of the pandemic retail economy. The more than century-old company secured another significant deal last year, negotiating the largest private-sector union contract in the U.S. with the Teamsters without a strike. The five-year agreement boosts pay and enhances working conditions and safety, including by putting air-conditioning in more trucks. But just months after union ratification, in January UPS announced 12,000 layoffs, which CEO Carol Tomé said would generate $1 billion in savings as the logistics behemoth shifts its focus to higher-margin shipments. UPS: 2024 TIME100 Most Influential Companies ```json [{"@context":"https://schema.org","@type":"Article","@id":"https://time.com/collections/time100-companies-2024/6980438/ups/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/collections/time100-companies-2024/6980438/ups/"},"headline":"UPS","datePublished":"2024-05-30T11:35:34.000Z","dateModified":"2026-03-03T02:28:10.974Z","description":"","url":"https://time.com/collections/time100-companies-2024/6980438/ups/","keywords":["Companies","franchise","Magazine","Special Project","sponsorshipblock","News desk edits","Accolades"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt885e7516a8288044/698a5753b21a9ceb4750a0c3/time100-companies-ups-2024-01.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Nik Popli","jobTitle":"Staff Writer","url":"https://time.com/author/nik-popli/"}],"creator":"Nik Popli","articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt885e7516a8288044/698a5753b21a9ceb4750a0c3/time100-companies-ups-2024-01.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/collections/time100-companies-2024/6980438/ups/","name":"UPS"}}]}] ```