Reported about 8 hours ago
UPS announced it will lay off 20,000 employees and close 73 facilities due to decreased shipments from Amazon, its largest client, amidst economic uncertainty. The actions are part of a broader strategy to cut costs and increase automation, aiming to save $3.5 billion in 2025, despite exceeding profit expectations for the first quarter. CEO Carol Tomé highlighted the unprecedented impact of global trade dynamics on their operations.
Source: YAHOO