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.

UPS expects to save $3.5 billion in 2025 after cutting 20,000 jobs and closing 73 leased and owned buildings by the end of June, the company announced in its first-quarter earnings report.