UPS announces a harsh move. As it scales back Amazon volume, UPS plans to reduce its total operational hours and cut thousands of jobs. The shipping giant is planning to lay off 2

UPS expects to save $3.5 billion in 2025 after cutting 20,000 jobs and closing 73 leased and owned buildings by the end of June, the company announced in its first-quarter earnings report.

(Bloomberg) — United Parcel Service Inc. expects to cut 20,000 jobs this year and close dozens of facilities as it dramatically reduces shipments for e-commerce giant Amazon.