United Parcel Service posted third-quarter results that handily beat Wall Street’s expectations and gave details about its turnaround efforts, including approximately 48,000 job cuts

Delivery company United Parcel Service reported higher-than-expected earnings but bigger job cuts in its business turnaround goals.

The direct action taken by companies to cut jobs, for different reasons, may act as a warning that a snowball effect could be in the works.

It's a tough time for the job market. Amid wider economic uncertainty, some analysts have said that businesses are at a “no-hire, no fire” standstill.

Amazon and UPS both announced on Tuesday significant layoffs across the United States, affecting thousands of jobs. Amazon plans to cut more than 14,000 jobs, primarily

ATLANTA — UPS has slashed tens of thousands of jobs, more than double what it initially had said it would. The United Parcel Service had said it planned on cutting 20,000 jobs, but this year it has cut 14,000 management jobs and 34,000 people in the operational portion of the company.

The size of the recent cuts from Amazon and UPS, along with others — like those announced by Paramount Skydance Corp. over the past week — have signaled a “significant” shift in how companies are thinking about their operations,

Amazon (AMZN) confirmed it will cut 14,000 corporate jobs, while UPS (UPS) lays off 34,000 workers. Yahoo Finance Senior Reporter Brooke DiPalma examines the workforce reductions and what they signal about the US economy.

United Parcel Service posted better-than-expected results on Tuesday, in an early sign that the company's overhaul, which included cutting 48,000 jobs, was making headway following several difficult quarters of weak volumes.

LAYOFFS: Amazon announces another round of layoffs impacting 14,000 corporate roles Here's what to know about the layoffs at Amazon, UPS, Target and other employers. Houston and Texas will escape the brunt of the layoffs announced this week.