FedEx isn’t worried about Amazon becoming a competitor

Amazon hasn’t officially confirmed anything, but the company isn’t exactly hiding the fact that it’s trying to build its own shipping network in an effort to cut costs and speed up deliveries. However, building a shipping network is an immensely expensive and time consuming process, which is why FedEx isn’t all that worried about Amazon becoming a competitor anytime soon. Mike Glenn, the executive vice president at FedEx, claimed during an earnings call on Wednesday that the reports of Amazon building its own shipping network are “headline grabbing” stories. According to Glenn, Amazon would have to invest tens of billions of dollars over the course of several years before it could hope to compete with established shipping companies like FedEx or UPS.