UPS To Slash 20,000 Jobs On Amazon Pullback & Looming Freight Slowdown
(www.zerohedge.com)https://www.zerohedge.com/markets/ups-slash-20000-jobs-amazon-pullback-looming-freight-slowdownUnited Parcel Service plans to cut tens of thousands of jobs this year and close dozens of leased and owned facilities by the end of June, describing the move as a "network reconfiguration and efficiency effort." The reductions follow a pullback in partnership between the carrier and e-commerce giant Amazon for low-margin deliveries, a shift that began earlier this year, and come amid a broader slowdown in package volumes from China to the U.S. because of President Trump's tariff wall.
