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April 8, 2020, 11:12 a.m. EDT

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

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/zigman2/quotes/210331248/composite AMZN -0.23% /zigman2/quotes/201245396/composite UPS -2.14% /zigman2/quotes/203047719/composite FDX -1.17%

Apr 08, 2020 (NetworkNewsWire via COMTEX) -- According to a Reuters Technology News update published yesterday, Amazon.com Inc /zigman2/quotes/210331248/composite AMZN -0.23% is suspending a delivery service that aims to compete with UPS /zigman2/quotes/201245396/composite UPS -2.14% and FedEx /zigman2/quotes/203047719/composite FDX -1.17% 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 .

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

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COMTEX_364328632/2557/2020-04-08T11:11:49

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,140.90
-7.26 -0.23%
Volume: 1.87M
Aug. 11, 2020 1:09p
P/E Ratio
121.12
Dividend Yield
N/A
Market Cap
$1576.88 billion
Rev. per Employee
$359,671
loading...
/zigman2/quotes/201245396/composite
US : U.S.: NYSE
$ 156.17
-3.42 -2.14%
Volume: 3.58M
Aug. 11, 2020 1:09p
P/E Ratio
30.91
Dividend Yield
2.60%
Market Cap
$137.90 billion
Rev. per Employee
$149,503
loading...
/zigman2/quotes/203047719/composite
US : U.S.: NYSE
$ 197.64
-2.34 -1.17%
Volume: 3.78M
Aug. 11, 2020 1:08p
P/E Ratio
13.05
Dividend Yield
1.31%
Market Cap
$52.39 billion
Rev. per Employee
$304,846
loading...
/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,140.90
-7.26 -0.23%
Volume: 1.87M
Aug. 11, 2020 1:09p
P/E Ratio
121.12
Dividend Yield
N/A
Market Cap
$1576.88 billion
Rev. per Employee
$359,671
loading...
/zigman2/quotes/201245396/composite
US : U.S.: NYSE
$ 156.17
-3.42 -2.14%
Volume: 3.58M
Aug. 11, 2020 1:09p
P/E Ratio
30.91
Dividend Yield
2.60%
Market Cap
$137.90 billion
Rev. per Employee
$149,503
loading...
/zigman2/quotes/203047719/composite
US : U.S.: NYSE
$ 197.64
-2.34 -1.17%
Volume: 3.78M
Aug. 11, 2020 1:08p
P/E Ratio
13.05
Dividend Yield
1.31%
Market Cap
$52.39 billion
Rev. per Employee
$304,846
loading...

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