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NetworkNewsBreaks – Amazon.com, Inc. (NASDAQ: AMZN) to Focus on Core Delivery Operation, Suspend Delivery Service Competing with UPS (NYSE: UPS) and FedEx (NYSE: FDX)

Company: Amazon.com, Inc. (AMZN)
Category: News

According to a Reuters Technology News update published yesterday, Amazon.com Inc (NASDAQ: AMZN) is suspending a delivery service that aims to compete with UPS (NYSE: UPS) and FedEx (NYSE: FDX) in the United States. According to the update, the service, Amazon Shipping, will be paused starting in June in order for AMZN to focus on a surge in its own customer’s orders and core delivery operation. Amazon previously announced that it would hire 100,000 warehouse and delivery workers in the United States to deal with a surge in online orders. Shares of UPS and FedEx rose 2% in extended trading on the news. “We regularly look at a variety of factors across Amazon to make sure we’re set up in the right way to best serve our customers,” an Amazon spokesperson told Reuters in an email confirming the halt in service.

To view the full press release, visit http://nnw.fm/7xAmj

About Amazon.com

Amazon.com, Inc., is an American multinational technology company based in Seattle, with 750,000 employees. It focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. For more information, visit the company’s website at www.Amazon.com.

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