United Parcel Service (UPS) announced plans to cut an additional 30,000 jobs this year due to ending its partnership with Amazon. CFO Brian Dykes stated that UPS will reduce operational hours by 25 million related to the Amazon decline, aiming to offer a second voluntary separation program for full-time drivers. Last year, UPS eliminated 48,000 jobs, 34,000 of which were operational. The company expects $3 billion in savings from ceasing operations with Amazon. UPS reported fourth-quarter earnings, surpassing Wall Street estimates, with shares up almost 2% in morning trading.

Read more at CNBC: UPS to cut additional 30,000 jobs in Amazon unwind, turnaround plan