Amazon to retrain a third of its U.S. workforce
U.S. companies are increasingly paying up to retrain workers as new technologies transform the workplace and companies struggle to recruit talent in one of the hottest job markets in decades.
Amazon.com Inc. AMZN 0.50% is the latest example of a large employer committing to help its workers gain new skills. The online retailer said Thursday it plans to spend $700 million over about six years to retrain a third of its U.S. workforce as automation, machine learning and other technology upends the way many of its employees do their jobs.
Companies as varied as AT&T Inc., Walmart Inc., WMT 0.33% JPMorgan Chase & Co. and Accenture ACN -0.45% PLC have embarked on efforts to prepare workers for new roles. At a time of historically low unemployment, coupled with rapid digital transformation that requires high-tech job skills, more U.S. companies said they want to help their employees transition to new positions—and they have their bottom line squarely in focus.