UPS says it will cut 20,000 jobs worldwide in 2025

UPS plans to eliminate 20,000 positions globally in 2025 and close 73 facilities by June 2025 due to a significant decrease in business from Amazon. This strategic move aims to reconfigure operations in response to a changing trade environment, despite a 7.2 percent increase in profits to $1.2 billion. The company anticipates becoming more agile amidst macroeconomic uncertainty.