\Magento\Shipping\Model\Shipping\LabelGenerator::createPdfPageFromImageString() does not free GD image resource with imagedestroy so the memory can not be reused by Magento until the request processing ends

https://github.com/magento/magento2/blob/2.0.0/app/code/Magento/Shipping/Model/Shipping/LabelGenerator.php#L172-L189

See the top comments here: http://php.net/manual/en/function.imagedestroy.php

https://github.com/magento/magento2/issues/2694