UPS to Cut 12,000 Jobs and Mandate Return to Offices Five Days a Week

United Parcel Service said it planned to shed about 12,000 jobs this year and mandated staff work from offices five days a week starting March 4, as the package-delivery company seeks to boost productivity amid a protracted slowdown in business.

The cuts are primarily targeted at management staff worldwide as well as contract workers, UPS executives said Tuesday, adding that those jobs weren’t likely to return even when business picks up. The company has around 85,000 management employees. 

Unionized package handling and transportation workers account for the bulk of UPS’s...