UPS stock price drops 3% as Amazon pullback and 30,000-job cut plan sink in
New York, January 28, 2026, 14:57 EST — during the regular session Shares of United Parcel Service dropped 3.2% to $103.82 in Wednesday afternoon trading, giving back some of the gains made earlier after the company’s quarterly earnings report. The stock moved after UPS announced plans to cut up to 30,000 jobs and close 24 facilities in 2026, scaling back low-margin deliveries for Amazon. CEO Carol Tomé said the company intends to “glide down another million pieces per day” for Amazon next year. UPS also warned revenue will dip in the first half of 2026 before improving later. Evercore ISI