Amazon To Dole Out $1B Partly To Improve Warehousing Experience After Flak Over Workplace Safety

Amazon.com Inc AMZN looks to invest $1 billion in companies developing technologies in logistics, supply chain management, and safety to boost its core business.
Amazon launched the Amazon Industrial Innovation Fund venture investment program to back companies “of all stages” working on technology to increase e-commerce delivery speeds and improve the experience of workers in warehousing and logistics.
Also Read: Amazon’s Troubles Mount As Workers’ Rights Advocates Slam Its Scheme For Injured Workers
Amazon’s corporate development group has a long track record of buying stakes in other companies, Bloomberg reports.
The initiative becomes imminent as online shopping becomes even more important to people seeking more convenience and time savings.
The new fund’ coincides with Amazon facing flak from politicians and labor unions over workplace safety.
Price Action: AMZN shares traded higher by 0.40% at $2,977.83 on the last check Friday.