US EditionUPS to cut 20,000 jobs, close dozens of buildings due to lower Amazon volumes
- United Parcel Service revealed plans to eliminate 20,000 jobs and shut down 73 company-owned and leased facilities by the close of June 2025, driven by reduced shipping volumes from its largest client, Amazon.
- The job cuts and closures respond to weak shipment volumes from Amazon and a broader economic slowdown with uncertain trade conditions tied to U.S. Tariffs.
- In the first quarter of 2025, UPS experienced a slight dip in revenue to $21.5 billion; however, its adjusted earnings per share reached $1.49, surpassing analysts' expectations of $1.38.
- CEO Carol Tome emphasized that the company's efforts to optimize its operations and lower expenses throughout the organization are especially timely, with these initiatives expected to generate $3.5 billion in savings.
- The company withheld updates to its full-year outlook given macroeconomic uncertainty, signaling ongoing challenges in demand and shipment volume recovery.
Insights by Ground AI
Does this summary seem wrong?
273 Articles
273 Articles
All
Left
33
Center
134
Right
23
Coverage Details
Total News Sources273
Leaning Left33Leaning Right23Center134Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
L 17%
C 71%
12%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
