UPS on Tuesday announced it is planning to cut 20,000 jobs this year, part of a cost-cutting effort that’s linked to fewer deliveries from Amazon, its biggest customer.
The shipping company, which operates in over 200 countries, currently has around 490,000 employees.
UPS did not immediately respond to request for comment.
The move is part of the company’s plan to consolidate UPS’s facilities and workforce. Along with the job cuts, the company announced it will also close 73 of its buildings by the end of June 2025.
In a Tuesday regulatory filing, UPS said the cuts are in “connection with our anticipation of lower volumes from our largest customer.” In January, the delivery giant said it had reached an agreement with Amazon to decrease its delivery volume by more than 50% in the second half of 2026.
UPS shares slipped 56 cents, or 0.6%, in pre-market trading.
Mary Cunningham
Mary Cunningham is a reporter for CBS MoneyWatch. Before joining the business and finance vertical, she worked at “60 Minutes”, CBSNews.com, and CBS News 24/7 as part of the CBS News Associate Program.
