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

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