UPS is trying to slash around 20,000 jobs and stop more than 70 benefits because it reduces the amount of Amazon shipments operating.
The package delivery agency said on Tuesday that this year is expected to spend a job. It is expected to close the 535 lease in late June and to close the owned building. UPS says it is still reviewing its network and can detect more buildings to close.
“The steps we are taking to re -configure our network and reduce our business spending on Tuesday said,” CEO Toma said on Tuesday. “The macro environment may be uncertain but with our activities we will emerge as stronger, more nimble up.”
In January, UPS announced that it reached an agreement with its largest customer Amazon, which would reduce the amount of 2026 by more than 50% in the second half.
During the fourth-fourth of UPS’s earnings conference in January, Tommy said that the company had been parted with Amazon for almost 30 years and when the deal came up this year, the UPS relationship decided to rebuild the relationship.
“Amazon is our largest customer but this is not our most profitable customer,” Tom said at that time. “Its margin is very low in favor of US domestic business.”
Tommy said that the UPS considered the various options and determined that the volume is the best option.
According to the factlet, the company employed about 490,000 workers.
United Parcel Service Inc. Tuesday reported the financial results of his first quarter. Atlanta -based agency has earned $ 1.19 billion or $$ 1.40 per share in the end of March 31.
Removed the specified items, was $ 1.49 per earning share. Voting analysts by Jacks Investment Research are better than $ 1.44 per share that is better.
Wall Street defeated $ 21.06 billion estimates with a total of $ 21.55 billion.
UPS says that due to current macroeconomic uncertainty, it is not providing any updates on the previous year’s vision. The company had earlier said that it was expected to earn 2025 income of about $ 89 billion.
UPS shares have increased somewhat in the morning business.
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