Amazon (NASDAQ:AMZN) just announced it’s shutting down both its Amazon Go convenience stores and Amazon Fresh grocery locations, marking a dramatic retreat from physical retail. The company cited failure to achieve “a truly distinctive customer experience with the right economic model needed for large-scale expansion.

Amazon (AMZN.O) said on Tuesday it would expand its same-day delivery service to more U.S. cities this year while closing some of its Amazon Go and Amazon Fresh physical locations to convert them into...

Amazon has told staff it plans to cut around 16,000 jobs globally as part of efforts to streamline operations and reduce bureaucracy across the business.

UPS said on Tuesday that it expected to cut as many as 30,000 jobs this year as part of a continuing effort to reduce costs and shore up profits.