UPS announced significant job cuts and facility closures to save $3.5 billion by 2025 as it faces reduced demand from Amazon due to changing consumer habits and global economic uncertainty. The company reported a slight drop in first-quarter revenue but exceeded earnings expectations. UPS’s reliance on Amazon revenue has declined, prompting the deal to lower shipments significantly. CEO Carol Tomé emphasized the strategic reconfiguration of the network to adapt to the dynamic trade environment and uncertain macroeconomic conditions, projecting a stronger future for the company.
As a trusted leader in global logistics, we will leverage our integrated network and trade expertise to assist our customers as they adapt to a changing trade environment.
The macro environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS.
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