UPS Announces Job Cuts Amid Declining Deliveries from Amazon
UPS revealed plans to cut 20,000 jobs this year as part of a cost-reduction strategy linked to reduced deliveries from Amazon, its largest customer. The company, which employs approximately 490,000 people globally, will also close 73 facilities by June 2025 in response to anticipated lower delivery volumes. This decision follows an agreement with Amazon to decrease delivery volume by over 50% in the latter half of 2026, causing UPS shares to dip 0.6% in pre-market trading.