UPS to cut 20,000 jobs, close some facilities as it reduces amount of Amazon shipments it handles

MICHELLE CHAPMAN

Tue, Apr 29, 2025, 8:25 AM 2 min read

UPS is looking to slash astir 20,000 jobs and adjacent much than 70 facilities arsenic it drastically reduces the magnitude of Amazon shipments it handles.

The bundle transportation institution said Tuesday that it anticipates making the occupation cuts this year. It anticipates closing 73 leased and owned buildings by the extremity of June. UPS said that it is inactive reviewing its web and whitethorn place much buildings to beryllium shuttered.

“The actions we are taking to reconfigure our web and trim outgo crossed our concern could not beryllium timelier,” CEO Carol Tomé said successful a connection connected Tuesday. "The macro situation whitethorn beryllium uncertain, but with our actions, we volition look arsenic an adjacent stronger, much nimble UPS.”

In January UPS announced that it had reached a woody with Amazon, its biggest customer, to little its measurement by much than 50% by the 2nd fractional of 2026.

During UPS’ fourth-quarter net league telephone successful January, Tomé said that the institution had partnered with Amazon for astir 30 years and that erstwhile its declaration came up this year, UPS decided to reassess the relationship.

“Amazon is our largest lawsuit but it’s not our astir profitable customer,” Tomé said astatine the time. “Its borderline is precise dilutive to the U.S. home business.”

Tomé said that UPS considered assorted options and determined that the measurement simplification was the champion alternative.

The institution employs astir 490,000 workers, according to FactSet.

United Parcel Service Inc. besides reported its first-quarter fiscal results connected Tuesday. The Atlanta-based institution earned $1.19 billion, oregon $$1.40 per share, successful the 4th ended March 31.

Stripping retired definite items, net were $1.49 per share. That's amended than the $1.44 per stock that analysts polled by Zacks Investment Research were calling for.

Revenue totaled $21.55 billion, beating Wall Street's estimation of $21.06 billion.

UPS said that it wasn't providing immoderate updates to its antecedently announced full-year outlook, fixed existent macroeconomic uncertainty. The institution antecedently said that it expected 2025 gross of astir $89 billion.

Shares of UPS roseate somewhat successful greeting trading.