Reported about 13 hours ago
UPS recently announced a significant reduction in its shipping volume with Amazon, cutting it by 50% to focus on more profitable clients. This decision follows a sharp rise in costs from the US Postal Service, prompting UPS to seek greater control over its financial destiny, as explained by CEO Carol Tomé. However, this move has led to a drastic drop in UPS's stock value and raised concerns among investors about the company's future profitability amidst the shift from high-volume, low-margin deliveries.
Source: YAHOO