Not as big of a deal as the media would like people to think.

UPS did the same thing last January. The tens of thousands of seasonal employees they always terminate after the new year are including in these figures.... they just never reported it until they had the opportunity to buy out contracts and convert more PT employees into flex drivers (drivers that are essentially back up... they get laid off from driving until needed and are given the opportunity to earn their time split between sorts at their facility).

So basically this whole announcement is a nothing burger. It gives the company the ability to manipulate their value publicly, ammo for contract bargaining between other carriers, and they'll buy out some of the higher seniority folks and those below in seniority will bid their jobs. Simple as such. Actually great opportunities for those that want to take the buyouts and also for lower seniority employees who will get to bid those positions.