UPS is undergoing major layoffs following a significant reduction in business from Amazon, its largest client. According to Unusual Whales, a UPS spokesman confirmed the layoffs stem from losing 50% of shipping volume from Amazon, in addition to cost-cutting initiatives tied to a larger operational overhaul.

As part of its restructuring, UPS is increasingly leaning on its gig-based platform, Roadie, which the company acquired in 2021. Roadie operates with independent 1099 contractors, many of whom say they are underpaid. Still, the model is expected to maintain delivery output while reducing labor costs. Roadie’s network has proven useful for serving online customers and major retailers such as Best Buy, Home Depot, Lowe’s, Tractor Supply, and CVS.

^{BitcoinVersus.Tech Editor’s Note:We volunteer daily to ensure the credibility of the information on this platform is Verifiably True. If you would like to support to help further secure the integrity of our research initiatives, please donate here}

BitcoinVersus.tech is not a financial advisor. This media platform reports on financial subjects purely for informational purposes.