UPS stands by decision to scale back business with Amazon, WSJ reports

Since the UPS (UPS) said it would vastly reduce its work for Amazon (AMZN), the tariff-fueled trade wars have strengthened economic uncertainty and crashed consumer sentiment, Jennifer Williams of The Wall Street Journal reports. Additionally, the UPS said it was cutting 20,000 jobs last week, but its CFO continues to say the company made the right decision shifting from Amazon. “The world changed tremendously,” Chief Financial Officer Brian Dykes said. “But the actions we’re taking with Amazon, they are all about giving us more control over our financial outcome.”