United Parcel Service (UPS) is offering voluntary buyout packages to its unionized delivery drivers for the first time in its 117-year history. This move is part of a broader restructuring effort that includes cutting 20,000 jobs and closing 73 facilities as UPS seeks to reduce costs amid stagnant parcel volumes and rising labor expenses in the United States. The company aims to align its workforce with the downsizing of its domestic ground network and its Amazon business. The buyout offers come alongside existing pension and healthcare benefits for employees. The Teamsters union, representing the drivers, has criticized the buyout plan, stating that their members cannot be bought off and expressing displeasure with UPS's approach. The restructuring follows management's earlier disclosures in April about intentions to streamline operations due to economic pressures and long-term stock performance challenges.