Picture: UPS
Delivery firm UPS is to shed 20,000 jobs this year as world trade is battered by tariffs.
Carol Tome, the chief executive, said the company was taking measures to “reconfigure” its operations and reduce costs in reaction to a “changing trade environment”.
She said: “The macro environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS.”
UPS had nearly half a million workers at the end of 2024.
That number is to be slashed as 73 worldwide premises are closed.
It’s expected the cost-cutting will save $3.5 billion.
Delivery and logistics staff are at the forefront of job losses.
UPS expects a future with fewer packages from Amazon, its largest customer.
Amazon accounted for 12% of UPS’ $91bn revenue in 2024.
