Amazon will pay for undergraduate education for employees

Amazon, founded by the world's richest billionaire Jeff Bezos according to Forbes , is ready to pay for undergraduate education for more than 750,000 of its employees in the United States. So the global online trading giant expects to attract tens of thousands of new workers with hourly wages in the face of fierce competition in the US market, writes The Wall Street Journal.

Amazon announced that it will pay for tuition and textbook purchases for employees pursuing bachelor's degrees across the country. Such a bonus for employees with an hourly salary will be available after 90 days of work in the company. The names of specific educational institutions are not given.

During the pandemic, Amazon hired 400,000 employees. As noted by the WSJ, the company expects to reduce employee turnover and attract tens of thousands of "hourly" employees in the coming months. Those with a 20-hour workweek (part-time) will be able to get a bonus from the retailer, but Amazon will only cover 50% of the cost of training.

There are also plans to expand other training and professional development programs. The company itself estimates that the initiative will cost it $1.2 billion by 2025.

Find out more

Amazon isn't the only company looking to retain employees with an educational perk. , previously announced free college education programs for employees Two of the largest US retail chains, Walmart and Target .