UPS cuts 20,000 jobs, GM delays investor call as Trump's tariffs create corporate chaos

FILE PHOTO: A Volkswagen Group car is loaded into a cargo ship as Porsche luxury and other VW cars intended for the export to the United States wait to be loaded at the seaport of Emden near the estuary, where the River Ems flows into the North Sea, in Emden, Germany, April 2, 2025. REUTERS/Wolfgang Rattay/File Photo

FRANKFURT/STOCKHOLM/DETROIT (Reuters) -General Motors, Kraft Heinz and Electrolux on Tuesday joined the diverse list of companies that have pulled forecasts for 2025 or slashed outlooks, as U.S. President Donald Trump's trade war sends a chill through the corporate world.

GM also pushed its investor call to Thursday pending possible changes to tariff policy, while delivery giant UPS said it would cut 20,000 jobs to lower costs in an uncertain economy and in anticipation of weak volumes from its largest customer, Amazon.