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.

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.

Parcel giant UPS said on Thursday it will offer voluntary buyouts to its full-time U.S. drivers as part of the largest network reconfiguration in its history — a sweeping overhaul that includes cutting 20,