Amazon, Inc. (NASDAQ: AMZN) on Thursday announced it will invest over USD 700 Million into upskilling training programs to help its employees advance their careers. The Company said it will retrain 100,000 workers, or one-third of its workforce, by 2025.
“While many of our employees want to build their careers here, for others it might be a stepping stone to different aspirations. We think it’s important to invest in our employees, and to help them gain new skills and create more professional options for themselves,” said Beth Galetti, Senior Vice President of HR. According to the Bureau of Labor Statistics, highly skilled jobs are expected to see the fastest growth in coming years. For Amazon, this means positions like data mapping, security engineering, and business analysis. Each of these jobs have grown at rates well over 100% over the last five years.
Amazon said its “Upskilling 2025” program includes new training opportunities and extensions of existing programs. Here’s a rundown of what the program will include:
- -Amazon Technical Academy, which aims to equip employees with the skills necessary to transition into software engineering careers
- -Associate2Tech, a fully-paid 90-day program designed to prepare workers for IT support technician roles
- -Machine Learning University, an initiative that helps Amazon employees with tech and coding backgrounds gain skills in Machine Learning
- -Growing Career Choice, a pre-paid tuition program for fulfillment center employees looking to earn a certificate or diploma in certain fields of study, leading to in-demand jobs
- -Amazon Apprenticeship, which offers paid classroom and on-the-job training apprenticeships with Amazon
- -AWS Training and Certification, which provides employees with courses to build cloud knowledge
Shares of Amazon have remained roughly flat following the reveal of its retraining plan. The stock has gained nearly 34% this year.