The daily business briefing: July 12, 2019

Amazon announces plan to spend $700 million to retrain workers, the Dow closes above 27,000 for the first time, and more

An Amazon fulfilment center
(Image credit: ANDREW YATES/AFP/Getty Images)

1. Amazon to spend $700 million to retrain workers

Amazon said Thursday that it would spend $700 million to retrain a third of its U.S. workers and help them learn more high-tech tasks as automation technology changes their workplace. Amazon called the program one of the world's biggest efforts to retrain employees. Amazon will retrain all kinds of workers, from corporate employees to warehouse staff. About 100,000 people will be retrained by 2025, out of Amazon's 300,000 U.S. employees. The effort reflects the need for tech companies to adapt to fast-developing technology and keep scarce workers in a time of low unemployment.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us