UPS aims to slash about 20,000 jobs and close more than 70 facilities as it drastically reduces the amount of Amazon shipments it handles.

United Parcel Service said it is cutting 20,000 operational positions this year, moving to slash expenses after breaking ways with Amazon.com, its biggest customer.UPS, which has nearly 490,000 employees,

UPS’s stock jumps after earnings beat expectations, but full-year outlook wasn’t updated given economic uncertainties.