UPS Cuts 48,000 Jobs Amid Reduced Amazon Deliveries
UPS reported a profit of US$1.3 billion in the third quarter, down 14.8% from a year ago.
The company is cutting 48,000 jobs as part of a major reorganisation due to a planned reduction in delivery services for Amazon packages.
- The shipping giant's driver workforce has fallen by about 34,000 from a year ago.
- About one-third of that number came in September, with some departures through a "voluntary separation programme".
Company officials announced the job cuts on October 28.
Author's summary: UPS cuts 48,000 jobs due to reduced Amazon deliveries.
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