What happened: UPS announced it will cut 30,000 jobs as it scales back low-profit deliveries for Amazon. The company is shifting its focus away from the online retailer.
Why it matters:
- The job cuts will affect thousands of UPS employees across the US.
- The move signals changes in the parcel delivery market and UPS's business strategy.
MNN Take: UPS is adjusting its operations to improve profitability by reducing reliance on low-margin contracts like those with Amazon, leading to workforce reductions.
Sources: BBC US & Canada