UPS Reduces Amazon Deliveries to Focus on Higher-Margin Business, Concerns Rise Among Investors
UPS is reducing the number of Amazon deliveries to focus on higher-margin business segments, which has raised concerns among investors. The company reported lower-than-expected first-quarter operating profits and saw its stock drop nearly 5% following the earnings report. UPS's CFO highlighted the company's continued partnership with Amazon, particularly in returns processing, despite the decline in Amazon's share of its revenue.
Topics: Amazon delivery strategy earnings report job cuts margin growth UPS