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FedEx and UPS Scramble to Stay Ahead of New Competitor Amazon

FedEx
Photo Credit: BriYYZ via Flickr cc

Shipping giants FedEx and UPS are scrambling to stay a step ahead of Amazon, which has very recently become a major competitor in the space.

As Amazon grows its shipping capabilities, renting planes and paying employees to quit and start their own delivery businesses, FedEx is cutting ties with the online retailer that was once its customer, ending its express air and ground delivery contracts. Meanwhile, UPS is exploring new delivery methods, including self-driving vehicles and drones.

The years-long battle between Amazon and retail companies has spilled over into the shipping industry, with FedEx and UPS adjusting their strategies as the tech giant, once simply a customer, is now a major competitor.

Read the full story at CNBC.