Summary
UPS plans to cut up to 30,000 jobs as it reduces its reliance on Amazon for package deliveries. The company aims to focus on more profitable customers and has already begun reducing Amazon shipments and closing several facilities.
Key Facts
- UPS will cut up to 30,000 jobs this year.
- The job cuts will happen through buyout offers and not replacing employees who leave.
- UPS is reducing its package deliveries for Amazon, calling them less profitable.
- UPS reported earnings of $24.5 billion for the last quarter of the previous year.
- UPS forecasts an increase in revenue to $89.7 billion for the current year.
- The plan is part of UPS's strategy to focus on more profitable clients like healthcare companies.
- UPS previously cut 48,000 jobs and closed 93 facilities, reducing Amazon deliveries.
- UPS will close 24 more facilities in the first half of this year.
