UPS is set to cut up to 30,000 jobs this year as it reduces its reliance on Amazon deliveries, which it deems unprofitable. This move is part of a larger strategy to focus on more lucrative customers.

• UPS reported $24.5 billion in earnings for the last quarter of 2025 and projects $89.7 billion in revenue for the upcoming year.
• The job cuts will be implemented through buyout offers and attrition, following 48,000 job reductions and 93 facility closures in 2025 due to reduced Amazon deliveries.
• CEO Carol Tome stated that UPS aims to further reduce Amazon parcel volume by "another million pieces per day" in 2026.
• The company is also retiring its MD-11 cargo plane fleet after a fatal crash in November.
• Amazon significantly increased its own delivery services, handling 6.3 billion deliveries in the U.S. in 2024, surpassing UPS and FedEx.

Amazon accidentally sent an email confirming a new round of global layoffs to employees, revealing job cuts in the US, Canada, and Costa Rica. The draft email, titled "Project Dawn," was shared by mistake, preceding official announcements about the redundancies.

• An estimated 700,000 people have been laid off across the tech industry over the last four years.
• The email was a draft from senior vice president Colleen Aubrey of Amazon Web Services (AWS).
• Amazon expects to reach a total of around 30,000 job cuts, following 14,000 announced in October.

Cisco Systems chairman and chief executive Chuck Robbins has warned that while winners will emerge from the Artificial Intelligence (AI) boom, there will be "carnage along the way." He believes the technology will be "bigger than the internet," but the current market is likely a bubble, similar to what was seen with the dotcom boom.

• Robbins predicts some jobs will be changed or "eliminated" by AI, particularly in areas like customer services, urging workers to embrace the technology rather than fear it.
• He acknowledges that the current investment surge in AI likely constitutes a bubble, echoing concerns from figures like JPMorgan Chase boss Jamie Dimon and Google parent company Alphabet's chief executive Sundar Pichai.
• Cisco, a company that saw its value fall by 80% during the dotcom bust, is now a key partner in providing the essential infrastructure underpinning AI.