New Republic - UPS plans to fire 20,000 people before the end of the year, in the midst of a Trump-induced drop in deliveries from Amazon, the postal service’s biggest customer. This amounts to a staggering 4 percent of its workforce. UPS will also shut down 73 buildings.
“In connection with our anticipation of lower volumes from our largest customer, we began our Network Reconfiguration, which is an expansion of Network of the Future and will lead to consolidations of our facilities and workforce as well as an end-to-end process redesign,” UPS stated in a regulatory filing.
Trump’s 145 percent tariffs on Chinese imports are likely to have a massive impact on Amazon, as 60 percent of its sales come from smaller, independent retailers that depend on said imports. Even Amazon CEO Andy Jassy admitted that the cost of countless products “made in China” will shoot up. Earlier on Tuesday, a report indicated that Amazon had plans to display how much each product’s final cost had been impacted by Trump’s tariffs, though it later caved under White House pressure and said that’s no longer the case.
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