Amazon shares news: Tech giant announces Vancouver expansion

Amazon shares closed lower Monday as the tech giant announced it was expanding its Canadian workforce and creating 3,000 new tech-related jobs in Vancouver.

Amazon shares news: Tech giant announces Vancouver expansion

Amazon shares ended the US Monday trading session in the red as Jeff Bezos’ firm announced plans to expand its Vancouver tech hub. The move will see 3,000 new jobs created at the facility across a variety of tech roles.

Amazon shares closed 0.41% lower at $1,566.13, in the US Monday. Pre-market activity currently has the stock trading in positive territory.

Amazon’s Canada plans

The tech giant already employs some 6,000 staff across Canada in a range of jobs for the multi-skilled business. However, this latest expansion is focused on its Vancouver tech hub and is designed to foster more innovation and technical creativity.

The major increase in staff will require more work space and Amazon will provide that with a new, 416,000 square foot Development Centre in Vancouver. Canadian Prime Minister Justin Trudeau attended an event at the site to mark this latest announcement.

“Amazon is excited to create 3,000 more highly-skilled jobs in Vancouver," said Alexandre Gagnon, Vice President of Amazon Canada and Mexico.

“Vancouver is home to an incredibly talented and diverse workforce, and these thousands of new employees will invent on behalf of our customers worldwide,” Gagnon added.

The Mayor of Vancouver also expressed his pleasure at the news.

“Amazon's decision to bring another 3,000 jobs to Vancouver is great news for our city's booming innovation economy,” said Vancouver Mayor Gregor Robertson.

“We are home to the fastest growing, most resilient and greenest economy in Canada and Amazon's major expansion in our city means more long-term jobs for people who want to live, work and build a future in Vancouver,” Robertson added.

Vancouver talent expansion

The announcement details show that Amazon currently employs some 1,000 researchers and engineers at its Vancouver facility. The new roles will include e-commerce technology, cloud computing, and machine learning.

Amazon will also build a new Vancouver-based office through a project that will begin in 2022 and create “state-of-the-art amenities and an easily accessible location for its employees.”

And, the tech giant plans to expand further to 5,000 Vancouver-based employees over the coming years.

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