FedEx, a worldwide provider of air-land transfer, cargo and logistics services, announced that it has ended its more than 20-year partnership as the primary cargo provider for the US Postal Service.
United Parcel Services (UPS) has announced that it will become the primary shipping provider for the US Postal Service following FedEx’s decision to leave.
According to Reuters, UPS did not disclose the financial terms of the contract.
After the decisions, FedEx’s shares fell nearly 2 percent, while UPS’s shares declined in early trading.
In January, a FedEx executive said that such a separation could put 300 pilots at the company out of work.
