Amazon announces 1,500 apprenticeships in the UK ahead of earnings

Published by MEXEM News

July 25, 2024 2:51 PM

(GMT+2)

Amazon (NASDAQ:AMZN), often criticized for its harsh working conditions, announced that it would add around 1500 apprenticeships in its UK stores in 2022.

‍

The e-commerce retailer revealed that its workforce grew to 2021 in the UK and said it was offering new places on 40 different schemes, including 200 degree-level sites in publishing, retailing, marketing, and environmental, social, and Corporate Governance (ESG).

‍

In 2021, Amazon increased its permanent UK workforce to 70,000, exceeding its initial target of 55,000 permanent roles by the end of the year.

‍

Earlier, it proposed to add 10,000 jobs in 2021 and ended up hiring 15,000 additional roles for its fulfillment centers, sort center, and delivery stations across the UK, according to the report. The cloud computing behemoth said it invested $43.3 billion in the UK since 2010 but did not break down that investment.

‍

The latest recruitment drive comes as firms in the UK and the US report growing problems filling skilled roles, while Amazon has previously also offered a signing-on bonus of £1,000 to fill some positions.

‍

John Boumphrey, the firm's UK country manager, said Amazon was "proud" to have created the 1,500 apprenticeships, which would "help even more people get the skills that are in demand in today's labor market."

‍

IN MARKET NEWS

‍

Today, after trading sideways for nearly 18 months, Amazon will be disclosing its Q4 2021 financial results, which are equally important for Amazon's shareholders and investors in the stock market.

‍

Last quarter, Amazon missed Wall Street predictions for both revenue and earnings and was the second consecutive quarter that revenue fell short of the analyst consensus estimate. Over the past year, shares of Amazon have lost 5.5% and not the kind of absolute performance investors would like to see.

‍

Though investors can expect material news very soon with Amazon guiding revenue of $130 billion to $140 billion for the fourth quarter, representing 4% growth to 12% year over year.

‍

To invest in stocks visit MEXEM.

‍

Ready to get started?

Start trading with the full package, from state of the art platform to free tool and favorable transaction fees.

JOIN US NOW

All investments involve risks, including the possible loss of capital

©️ MEXEM AFRICA (PTY) LTD (MEXEM AFRICA) is an authorized financial services provider (FSP 48325). All trades on the MEXEM AFRICA platform are subject to the legal terms and conditions to which you agree to be bound.

The MEXEM AFRICA platform enables users to invest in securities. MEXEM AFRICA acts as an agent for the issuance of whole shares, where the investor is the registered owner of those shares, entitled to dividends, participation in corporate actions, and all the economic benefits and risks associated with share ownership.

The availability of any share on the MEXEM AFRICA platform is based on various factors but is not an indication of value and does not mean that any share is an appropriate investment for you. Images are for illustrative purposes only and past performance is not necessarily an indication of future performance.
‍
The availability of any share on the browse shares page does not necessarily indicate any contractual relationship between MEXEM AFRICA and the listed company or the payment of fees for services. Brand logos are owned by the respective companies and not by MEXEM AFRICA. The use of a company’s brand logo does not represent an endorsement of MEXEM AFRICA by the company, nor an endorsement of the company by MEXEM AFRICA, nor does it necessarily imply any contractual relationship. Further investment disclosures are available on the MEXEM AFRICA website.

Read our Forms & Disclosures.