The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Amazon.com on Thursday unveiled plans to retrain a third of its U.S. workforce — or 100,000 workers — by 2025 to help its employees move into more advanced jobs or find new careers.
The retail and tech giant intends to expand its existing training programs and introduce new ones. The training will be voluntary, and most of the programs are free.
Programs will help workers "access training to move into highly skilled technical and non- technical roles across the company's corporate offices, tech hubs, fulfillment centers, retail stores, and transportation network, or pursue career paths outside of Amazon," the company said in a statement.
Amazon's retraining programs will include:
The planned program is among the biggest corporate retraining initiatives ever announced, at a cost of roughly $7,000 per worker, or $700 million.
Amazon and other companies have struggled to find technically qualified U.S. employees. More advanced training for workers hired to work in Amazon warehouses is occurring in an increasingly competitive environment with the unemployment rate hovering below 4%.
While customers are less likely to come face to face with an Amazon worker, the company can improve the experience of shopping online with a staff that is more technically savvy.
Amazon.com Inc. has also faced criticism from labor groups and some politicians, including presidential candidates, over what they see as substandard working conditions. Providing an avenue for low-skilled workers to advance within the company, or outside of it, could reshape the narrative for Amazon.
"While many of our employees want to build their careers here, for others it might be a stepping stone to different aspirations," said Beth Galetti, a senior vice president of human resources at Amazon. "We think it's important to invest in our employees, and to help them gain new skills and create more professional options for themselves. With this pledge, we're committing to support 100,000 Amazonians in getting the skills to make the next step in their careers."
The Seattle company said Thursday that its U.S. workforce will hit 300,000 this year. It has more than 630,000 employees worldwide.
Amazon, using its own employment data, said its fastest growing skilled job positions over the last five years include data mapping, data science, security engineering and business analysis. There is also strong demand for workers skilled in logistics and transportation.
Amazon shares are up 34% this year and are among the top performers in the 5-year run by the S&P 500 to 3,000 from 2,000.
The Wall Street Journal first reported on the company's retraining program.
—The Associated Press contributed to this report.