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Amazon and FedEx reach multiyear deal for large package deliveries after UPS cuts back
FedEx and Amazon have signed a multiyear agreement for residential delivery of select large packages. Amazon has hired FedEx to handle some of its large package deliveries, the companies said on May 12, weeks after UPS said it was halting its less-profitable deliveries for the e-commerce retailer and cutting 20,000 jobs.
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FedEx Stock Gains On Tie-Up With Amazon For Large Packages, Retail’s DividedFedEx (FDX) stock rose nearly 7% on Monday after reports said that Amazon has roped in the company to deliver large packages.
The deal with FedEx, signed in February, gives Amazon “cost favorability” compared with delivery rival UPS, Business Insider had reported, citing an internal document. The agreement will not replace ...
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