Reported 2 days ago
UPS has announced a significant cutback in services with Amazon, its largest customer, predicting a drop in 2025 revenue as it shifts focus to more profitable sectors. This decision, which will reduce Amazon's parcel volumes by over 50% by 2026, follows disappointing revenue results where UPS's Q4 revenue fell short of expectations. The stock price dropped over 14%, nearing its worst trading day record, as the company aims to improve profitability through efficiency initiatives and a shift towards healthcare and small business shipping.
Source: YAHOO