Just in time for Christmas.

UPS said the layoffs were part of a broader effort to cut costs and reshape the company to better adapt to shifting market dynamics, as executives face pressure to stem a long-term decline in the share price, which has fallen by more than 20 percent this year.

UPS shares rose following Tuesday’s release, and were up over 7 percent at the time of writing.

The Atlanta-based company said the reductions comprised 14,000 roles primarily in management, alongside around 34,000 cuts within its “operational workforce”—employees involved in its day-to-day logistics and delivery services.

I would be curious to know what percentage of the 34,000 chose not to join the union

Say it with me everyone:

Not a recession!

If you say it over and over, it must be true!

Yes, the economy is clearly doing well, thank you Orange Man.