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.

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.

UPS expects to save $3.5 billion in 2025 after cutting 20,000 jobs and closing 73 leased and owned buildings by the end of June, the company announced in its first-quarter earnings report.