The company said a “select group of non-operations, retirement-eligible U.S. management employees” have been told they are eligible for a voluntary retirement plan, with a financial buyout to retire.

To be eligible, management employees must be at least 55 years old with 10 years of service, or 65 years old with five years of service, though the seniority requirements are higher for some groups with specialized skills. Those eligible have until June 15 to decide whether to take the cash offer.

The retirement program will reduce headcount and operating expense, and is designed to be phased for an "orderly transition," according to UPS.

The company said the move is part of a transformation "to take advantage of record growth in demand" for logistics services. UPS is also expanding use of technology "for greater staff efficiency."

“We’re going to go through streamlining and process changes that will allow us to accomplish the work with fewer people,” said UPS spokesman Steve Gaut.