UPS says it is cutting 20,000 staff and shutting over 70 facilities
1. UPS will cut 20,000 jobs to reduce costs by $3.5 billion. 2. The company plans to close 73 facilities citing soft demand. 3. UPS pulled its financial guidance due to macroeconomic uncertainty. 4. Q1 2025 revenue dipped 0.7% to $21.5 billion. 5. Adjusted operating profit rose slightly by 0.9% to $1.7 billion.