UPS cutting 20K jobs due to fewer Amazon shipments
1. UPS plans to lay off 20,000 workers due to economic uncertainty. 2. Amazon's shipping volume with UPS will be cut by 50% by 2026. 3. UPS’s revenue from Amazon is significant, representing 11.8% in 2024. 4. Trade tariffs are impacting global shipping demands and UPS's operations. 5. UPS is reconfiguring its network to reduce costs amid slowing trade.