Amazon said Wednesday it plans to invest $4 billion through 2026 to expand its rural delivery network, tripling its current footprint with more than 200 new delivery stations, according to CNBC. The expansion aims to cut delivery times in half and create about 170 jobs per site. Amazon emphasized the move comes as competitors reduce rural service due to cost, while it continues to invest in faster logistics. Amazon has accelerated its delivery speeds by investing in a vast warehouse network and internal logistics, aiming to surpass UPS and FedEx as the top U.S. package carrier. While it still uses services like USPS for rural areas, UPS is cutting 20,000 jobs amid efforts to reduce Amazon deliveries by more than half.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Amazon said Wednesday it plans to invest $4 billion through 2026 to expand its rural delivery network,
00:08tripling its current footprint with more than 200 new delivery stations.
00:11That according to CNBC.
00:13The expansion aims to cut delivery times in half and create about 170 jobs per site.
00:19Amazon emphasized the move comes as competitors reduce rural service due to costs.
00:23Wanda continues to invest in faster logistics.
00:25Amazon has accelerated its delivery speeds by investing in a vast warehouse network and internal logistics.
00:32It means to surpass UPS and FedEx as the top U.S. package carrier.
00:37While it still uses services like USPS for rural areas,
00:40UPS is cutting 20,000 jobs with efforts to reduce Amazon deliveries by more than half.
00:45For all things money, visit Benzinga.com slash GSTV.