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Key Takeaways
- Amazon said Tuesday it is planning to invest 40 billion British pounds ($54.4 billion) in the U.K. over the next three years.
- The tech giant said it would expand its cloud computing and AI infrastructure, as well as build new fulfillment centers and delivery stations around the country.
- The plan to ramp up its spending in the U.K. comes just days after Amazon CEO Andy Jassy said the tech firm plans to trim its corporate workforce over the next few years with the spread of AI.
Amazon (AMZN) said Tuesday it is planning to invest 40 billion British pounds ($54.4 billion) in the U.K. over the next three years, including an expansion of its cloud computing and artificial intelligence infrastructure.
The tech giant also said it would build four new fulfillment centres and new delivery stations around the country. The funds will be used to upgrade and expand its existing network of more than 100 operations buildings in the U.K. as well, it said.
Amazon Says Will Add Jobs in Hull, Northampton and other Sites
Amazon said the investment in the U.K. will create thousands of new permanent, full-time jobs. Those new jobs include 2,000 positions at the fulfilment center in Hull and 2,000 jobs at another in Northampton, as well additional positions at new sites in the East Midlands and at delivery stations across the U.K.
The company said that it already employs more than 75,000 people in the U.K., and pays full-time workers a minimum of 28,000 pounds a year, and 30,000 pounds annually in London.
U.K. Prime Minister Keir Starmer called the Amazon investment “a massive vote of confidence” in the country.
The move to ramp up spending in the U.K. comes just days after Amazon CEO Andy Jassy said the tech firm plans to trim its corporate workforce over the next few years with the spread of artificial intelligence.
Amazon shares, which entered Tuesday down almost 5% this year, were up 1.5% in early trading.
UPDATE—This article has been updated with the latest share price and additional information.
