UPS will cut an additional 30,000 Amazon jobs and scrap its transformation plan

United Parcel Service It announced on Tuesday that it plans to cut an additional 30,000 jobs this year as part of ending its partnership with… Amazon and a multi-year transformation plan.

UPS plans to reduce total operating hours by about 25 million associated with Amazon’s decline, Chief Financial Officer Brian Dykes said on a call with analysts Tuesday after the company’s quarterly earnings release.

“In terms of variable costs, we expect operational job cuts of up to 30,000,” Dykes said. “This will be achieved through attrition, and we anticipate introducing a second voluntary redundancy program for full-time drivers.”

The planned job cuts come after UPS cut 48,000 jobs last year, 34,000 of which were operational and 14,000 of which were management. The company had previously estimated the total cuts to be around $20,000.

UPS is in the midst of a turnaround plan under CEO Carol Toomey, aiming to revitalize the business. Although Amazon was previously UPS’s largest customer, the two companies are in the process of ceasing operations together. UPS said Tuesday that it expects to generate a total of $3 billion in savings related to the breakup of Amazon.

UPS reported fourth-quarter earnings on Tuesday, beating Wall Street estimates and citing an encouraging turnaround in its turnaround efforts.

The company’s shares rose nearly 2% in morning trading.