📉 UPS to Cut 20,000 Jobs After Slashing Amazon Shipments | What’s Going On?
In a major shake-up in the shipping and e-commerce world, UPS has announced it will cut 20,000 jobs following a dramatic reduction in parcel volume from Amazon, once one of its biggest clients. This cost-cutting move signals a shift in the logistics landscape, as Amazon continues to expand its own delivery network.
🚚 What Happened? UPS has been restructuring its operations due to declining package volumes and growing competition. With Amazon increasingly handling deliveries in-house, UPS has seen a significant drop in third-party shipping revenue, leading to this massive layoff decision.
📉 Key Takeaways:
🔻 20,000 jobs cut expected across global operations 📦 Amazon’s shift to its own logistics network 💸 Impact on UPS stock and investor confidence 🧑💼 What this means for workers in the logistics industry 🗺️ Global implications for the shipping supply chain
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Video Credit to : Forbes https://www.youtube.com/@Forbes
