A new wave of job actions is casting uncertainty over imports at U.S. West Coast ports. Dockworkers have throttled cargo operations from Southern California to Seattle in a series of walkouts and slowdowns, the WSJ Logistics Report’s Paul Berger writes, in a blunt sign of deep divisions between the union and port employers after more than a year of contract negotiations. Those talks have come down to wages as the sides work on a multiyear contract covering some 22,000 workers. Progress in other areas had raised hopes the talks were nearing a conclusion. But a longshore union local pointed to enmity in the talks in a statement noting container shipping lines had made billions in profits during the Covid-19 pandemic while 43 dockworkers had died during the health crisis. Negotiators will try to narrow the divide this week as terminal operators and U.S. importers brace for more potential disruptions.

Retailers are starting to shed warehouse space as they pare back their logistics networks and reset their inventory strategies. Discount merchant Big Lots recently closed four of its smaller, forward distribution centers, and hiring in the warehousing sector is in retreat. The WSJ Logistics Report’s Liz Young writes the latest moves follow efforts by market leaders Amazon.com and Walmart to scale back logistics operations, part of a broad realignment underway now that pandemic-driven supply-chain disruptions have largely receded and consumer-spending patterns are shifting toward services. The impact is rolling across an industrial real-estate market that had been booming in recent years. Vacancy rates are ticking up from historic lows and payrolls in the warehousing sector have fallen by more than 41,000 jobs in the past year. Several big retailers say they’re winding down their destocking efforts, but it looks like they’re still resetting their logistics networks.

The math behind the “China plus one” supply-chain strategy is starting to look out of date. Companies ranging from consumer electronics giant Apple to smaller operators like Crocs and Universal Electronics are setting up production in multiple countries including Vietnam, India and Mexico. The WSJ’s Jon Emont reports that supply-chain diversification strategies looks more like China plus many, as companies try to manage risk while recognizing that the world is a far more complicated place to do business than it was a decade ago. Part of the reason is that no single country can accommodate all the production leaving China. One study of large companies shows that two-thirds of their supply-chain overhauls since 2018 have pushed production to two or more countries. Spreading out production can be expensive, and it can take time to get suppliers on board. Still, more companies say the strategy adds up.

• Bank of America says mentions of “reshoring” in company earnings calls have more than doubled this year. (CNBC)

Amazon.com’s effort to jumpstart investment in logistics startups isn’t exactly hopping. The company last year launched a $1 billion venture-capital fund aimed at boosting a burgeoning logistics-technology sector aimed at speeding the flow of e-commerce goods. The WSJ’s Marc Vartabedian reports the fund has made just a few new investments more than a year after its launch, and has deployed roughly $110 million. The slow pace appears to be the result of a gap between investment strategy and corporate goals, including a disagreement over whether the corporate development or the venture team had the final say on funding. The lack of cohesion has put the fund behind the typical pace that funds of its size deploy capital. An Amazon official disputes that characterization, and says the fund is deploying capital in step with the broader market. That venture field has seen slower investment since last year.

• A union says Amazon fired a leader in efforts to organize workers at the company’s Bessemer, Ala., distribution center. (MarketWatch)

Hiring in the U.S. surged by 339,000 jobs in May, leaving payrolls up by 1.5 million jobs this year. (WSJ)

Saudi Arabia said it would cut 1 million barrels of oil a day as part of a deal between OPEC and its allies. (WSJ)

The U.S. is stepping up its efforts to get Mexico to ease its restrictions on genetically modified corn. (WSJ)

U.S. regulators are easing restrictions on important certain chemotherapy drugs, including China-manufactured treatments, to address shortages. (WSJ)

Airplane-parts giant Incora filed for chapter 11 bankruptcy protection. (WSJ)

The International Energy Agency will establish guidelines to limit import dependence on a single supplier for key minerals used in renewable energy. (Nikkei Asia)

General Motors and South Korea’s POSCO Future M will increase production of a key material for electric-vehicle batteries. (Detroit News)

Saudi Arabia is opening a second lithium processing facility, stepping up efforts to work with Western partners to develop its battery supply chain. (Financial Times)

U.S. liquefied natural gas exports slipped in May from a record high in April as exporters pulled back on shipments to Europe. (Reuters)

Iran’s oil exports reached their highest level since early 2019 in May. (Lloyd’s List)

A crude tanker broke down in the Suez Canal, briefly disrupting traffic in the waterway. (Associated Press)

An acute labor shortage is leading to project delays at South Korean shipyards. (Splash 247)

Canada Post cut its first-quarter loss 83% to about $16 million as revenue fell 1.7% from last year. (Parcel and PostalTechnology)

Production of the “Barbie” movie used up paint supplier Rosco’s entire stock of fluorescent pink paint. (Los Angeles Times)

Paul Page is editor of WSJ Logistics Report. Reach him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.