š“ Website š https://u-s-news.com/
Telegram š https://t.me/usnewscom_channel
AmazonĀ has hiredĀ FedExĀ to handle someĀ of its largeĀ package deliveries,Ā the companies said Monday,Ā weeks after UPS said it was halting its less-profitable deliveries for the e-commerce retailer and cutting 20,000 jobs.
FedEx sharesĀ surged on Monday even more than rallying Wall Street benchmarks, finishing up 7%. The Memphis-basedĀ delivery company said the multi-year agreement covers residential delivery of select large packages forĀ Amazon.
The deal with FedEx, signed in February, givesĀ AmazonĀ ācost favorabilityā comparedĀ with delivery rival UPS, Business InsiderĀ had reported, citing an internal document.
The agreement will not replace UPS,Ā AmazonĀ said as FedEx will join its third-party partners, including UPS and the USPS, and work alongside its own last-mile delivery network.
FedEx called it a āmutually beneficial, multi-year agreementā in a statement.
The deal may signal a thaw in relations betweenĀ FedEx andĀ Amazon. The companiesĀ cut residential delivery tiesĀ in 2019 asĀ AmazonĀ was building its now sprawling network of delivery services.
UPSĀ said in January it plans toĀ shrink shipment volumes forĀ Amazon, its largest customer, by more than 50% by the second half of 2026 to focus on fewer, but more profitable deliveries.
Late last month, UPS said it would slash 20,000 jobs and shut 73 facilities as a part of its planned reduction inĀ AmazonĀ deliveries, as well as cost-cutting and efficiency projects under a major operational restructuring.
FedEx and UPS have been in aĀ fierce battleĀ for market share over the last five years, often poaching whole or partial customer accounts from the other.