Reported 1 day ago
UPS experienced a decline in package volume and earnings in the second quarter, driven by reduced Amazon business, rising international tariffs, and cautious consumer sentiment. The company's domestic package volume fell 7.3%, resulting in a revenue drop to $21.2 billion. CEO Carol Tomé highlighted the impact of tariffs on pricing uncertainty and changing consumer behaviors. As part of a restructuring effort, UPS cut jobs and closed distribution centers, while also trying to optimize its network to save costs amid significant challenges.
Source: YAHOO