Report Blog Entry
UPS to Cut 20,000 Jobs Amid Declining Amazon Shipments and Strategic Restructuring
In a significant move to adapt to changing market dynamics, United Parcel Service (UPS) announced on Tuesday its plan to reduce its workforce by approximately 20,000 employees and close 73 facilities by the end of June 2025. This decision comes as the company faces decreased shipping volumes from Amazon, its largest customer, and seeks to streamline operations to improve profitability.
The layoffs will affect just over 4% of UPS's global workforce, which currently stands at around 490,000 employees. This announcement follows a previous decision by the company to cut 12,000 positions last year. The consolidation efforts are expected to yield $3.5 billion in savings this year, although UPS anticipates incurring $400 to $600 million in costs related to severance and facility closures
UPS to Cut 20,000 Jobs Amid Declining Amazon
Comments
Displaying 0 of 0 comments ( View all | Add Comment )