The United Parcel Service (UPS) announced Tuesday that it’s planning to cut 20,000 jobs this year.
According to a regulatory filing from UPS, the cuts are connected to its “anticipation of lower volumes” from its largest customer.
CBS is reporting that the customer is Amazon.
The layoffs will impact a little more than 4% of its workforce.
Tuesday’s announcement also said that UPS will close 73 buildings by June, and others may be subject to closure.
UPS estimates it’ll save $3.5 billion this year from its consolidation plan.
In January, UPS said it reached an agreement with Amazon to decrease its delivery volume by more than 50% in the second half of 2026.
UPS operates in over 200 countries and employs about 490,000 employees.
©2025 Cox Media Group
