UPS projected a decline in revenue for the current year, with a key factor being plans to phase out more than half of the business it does with Amazon over the next 18 months.

United Parcel Service on Thursday forecast downbeat 2025 revenue as it cuts back deliveries for its largest customer, Amazon.com , and grapples with stubbornly soft demand for lucrative overnight service and commercial shipments.

(Reuters) - -United Parcel Service on Thursday forecast 2025 revenue below Wall Street estimates, as gains from cost cuts were offset by customers opting for cheaper, slower ground-based deliveries from more profitable air-based services. Shares of the world's largest package delivery fell more than 5% early in the trading session.

Shares of United Parcel Service were suffering their worst day ever on Thursday, after the package-delivery giant announced an agreement that would cut its business with Amazon.com Inc., its largest customer,