00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Amazon and the U.S. Postal Service reached a tentative agreement on package handling
00:06that will reduce Amazon shipments through USPS by 20%.
00:09The agreement avoids an earlier proposal to cut volumes by two-thirds,
00:13according to the Wall Street Journal.
00:14The Postal Regulatory Commission will review the deal.
00:17Amazon.com and USPS did not immediately respond to Benzinga's request for comments.
00:22USPS handled more than 1 billion Amazon packages last year,
00:25representing about 15% of total parcel volume and about $6 billion in revenue.
00:30A 20% reduction could impact revenue,
00:32while a larger cut could have disrupted Amazon's rural deliveries,
00:35where USPS handles 30% to 40% of shipments.
00:39The agreement follows a bidding process launched in December to reassess.
00:42For all things money, visit Benzinga.com.
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