From Yahoo Finance: 2025-04-29 16:35:00

UPS plans to cut 20,000 front-line positions by 2025 due to declining unprofitable business from Amazon. The company aims to reduce Amazon volumes by more than 50% by June 2026. This move is part of UPS’s Network of the Future plan, which includes closing 200 sortation centers and eliminating $3.5 billion in expenses this year. The company expects a 30% decline in daily volume in the second half of 2025. UPS is also implementing automation and efficiency programs to hit its 12% target for U.S. operating margin.

Revenue for UPS in the first quarter was $21.5 billion, with adjusted operating profit at $1.7 billion. The company did not provide full-year guidance due to uncertainty caused by global tariff policies. Second-quarter revenue is expected to be $21 billion, with average daily domestic volume down 9% year over year. UPS has limited direct exposure to tariffs, with China to the United States being the most profitable trade route. International revenue increased 2.7% in the first quarter, driven by a surge in demand for U.S. inbound service ahead of expected tariff changes. UPS is preparing for potential impacts of tariffs on imports from China by analyzing different scenarios and making operational adjustments. Customers are exploring various tactics to cope with tariffs, including passing costs to consumers or asking suppliers to absorb the increase. Online shoppers on Chinese platforms will experience price hikes due to tariffs. UPS introduced a new tool for retailers called Global Checkout to calculate import fees. The company experienced a pullback in volume due to tariff uncertainty. UPS regained control of its SurePost final-mile delivery product and reintroduced ground delivery with freight pricing. UPS also announced an agreement to acquire Canadian logistics company Andlauer Healthcare Group Inc. 1. The stock market experienced a sharp decline today, with the Dow Jones dropping 500 points due to concerns over inflation and rising interest rates.

2. A new study found that the COVID-19 vaccine is highly effective in preventing severe illness and death, with a 95% efficacy rate among those who are fully vaccinated.

3. The United Nations reported that over 800,000 people in Ethiopia are facing severe food shortages due to ongoing conflict and instability in the region.

4. Tesla announced plans to build a new factory in Texas, which is expected to create thousands of jobs and boost the local economy.

5. The latest unemployment numbers show a slight decrease in jobless claims, with 350,000 new claims filed last week compared to 375,000 the week before.



Read more at Yahoo Finance: UPS to eliminate 20K jobs as Amazon decoupling accelerates