The shipping giant said the moves were expected to save $3.5 billion and were made in anticipation of “lower volumes from our largest customer,” which is Amazon.

UPS on Tuesday announced it is planning to cut 20,000 jobs this year, part of a cost-cutting effort that's linked to fewer deliveries from Amazon, its biggest customer.

(Bloomberg) — United Parcel Service Inc. expects to cut 20,000 jobs this year and close dozens of facilities as it dramatically reduces shipments for e-commerce giant Amazon.com Inc.