UPS to slash 20,000 jobs after parting ways with Amazon
UPS will cut 20,000 jobs this year after breaking with its biggest customer Amazon. The delivery giant is looking to slash costs after its decision in January to halve the number of Amazon deliveries it takes. Deliveries for the e-commerce giant makes up around 12 percent of UPS's revenue, the company said. However, UPS said the profit margins for Amazon deliveries were too small and it wanted to refocus on more lucrative markets such as healthcare and international deliveries.
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