Amazon to Retrain One Third of Workforce

Company adds voluntary initiative for employees who want to adapt to changing company.

On Thursday, Amazon (AMZN) announced it will spend over $700 million over the next six years to provide retraining for up to one third of its workforce.

The initiative will allow workers to adapt to the rapidly-changing company as it pursues automation and other new technologies. The retraining will allow employees to move into more advanced jobs, or possibly to other jobs outside Amazon itself.

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  • Calling the plan “Upskilling 2025,” it adds to the existing programs Amazon offers to employees. With this plan, a warehouse worker could acquire the skills needed for a more technical or IT role, which will remain in demand in future years as technology and automation programs expand.

    Action to take: While Amazon shares can be tough to value, the company is one of the most innovative out there. A plan to help employees adapt to changing times and technology can also help the company improve the quality of life for its workforce, where numerous complaints have been a common occurrence in recent years

    Shares of Amazon are trading right around $2,000 per share. While pricey, and difficult to value given the company’s inconsistent earnings and cash flows, a chance to buy under $2,000 looks attractive to bet on one of the world’s most dynamic companies.