Amazon's To Roll Out $700M Employee Advancement Program

Amazon.com, Inc. AMZN is planning to use $700 million to retrain a third of its U.S. workforce, according to The Wall Street Journal.

Amazon is making the effort to upgrade the skills of its workforce. The retraining will be voluntary and free to its employees.

The company expects to retrain 100,000 workers by 2025 by expanding existing training programs to help its employees move into more advanced jobs internally, according to the WSJ report.

The retraining program has been inspired due to technology changing society and the changing work landscape.

Amazon shares were trading up 0.4% at $2,025 in Thursday’s pre-market session. The stock has a 52-week high of $2,050.50 and a 52-week low of $1,307.00.

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