UPS Cuts 20,000 Jobs, Citing Amazon Volume Drop and Economic Slowdown
In response to a challenging economic climate and a projected 50% reduction in volume from its largest customer, Amazon, UPS announced a restructuring plan. This plan includes a workforce reduction of approximately 20,000 employees (4% of its total workforce) and the closure of 73 facilities. These changes, effective by June 2025, aim to enhance the company’s efficiency and cost structure. CEO Carol Tomé expressed gratitude to employees while emphasizing UPS’ commitment to navigating the evolving global logistics landscape.
John Q. Hosedrinker