United Parcel Service (NYSE:UPS) will reportedly offer its union drivers a severance offer as part of the company’s “network reconfiguration." The package offered through its “Driver Voluntary Severance Plan” is in addition to any retirement benefits,

Drivers would receive “a generous financial package if they choose to leave UPS,” in addition to any earned retirement benefits, including pension and health care, the company said in a statement on Thursday.

The United Parcel Service has announced that it is offering buyouts to full-time drivers as part of its execution of "the largest network reconfiguration" in the company's history.