UPS shared its first-quarter earnings report on April 29 and now plans to make significant cuts. This includes reducing its workforce by 20,000 employees and closing 164 facilities by the end of 2025. UPS announced the closings and layoffs amid President Donald Trump’s tariffs and the potential effects on the global economy. “I want to thank all UPSers for their hard work and efforts in this very dynamic environment,” said Carol Tomé, UPS chief executive officer. “As a trusted leader in global logistics, we will leverage our integrated network and trade expertise to assist our customers as they adapt to a changing trade environment.” UPS Announced A Change In Amazon Services Prior To The Closings According to the Associated Press, in January, UPS announced it would lower its business with Amazon by approximately 50%. As the company’s biggest customer, this certainly will impact UPS’ future. “Further, the actions we are taking to reconfigure our network and reduce cost across our business could not be timelier. The macro-environment may be uncertain, but with our actions, we will emerge as an even stronger, more nimble UPS,” Tomé added. According to a release, prior to layoffs and closings, UPS had a revenue of $91.1 billion in 2023. The company has customers in 20 countries. Per its purpose statement, “Moving our world forward by delivering what matters,” the company’s approximately 490,000 employees embrace a strategy that is simply stated and powerfully executed: Customer First. People Led. Innovation Driven. UPS is committed to reducing its impact on the environment and supporting the communities we serve around the world.” The company stated it will not provide updates on the full-year outlook at this time due to “macro-economic uncertainty.” UPS has not announced which locations will close or when. This story’s featured image is by elbud via Shutterstock. The post UPS To Cut 20K Jobs And Close Over 160 Locations appeared first on InspireMore.