Facebook share price: tech giant to invest in European digital training hubs

on Jan 22, 2018

Facebook shares ended in positive territory, Friday and early Monday the social media leader has announced its intention to invest in the growing digital economy across Europe. Facebook plans to open a number of European digital learning hubs in Spain, Poland and Italy.

Facebook shares ended the Friday US trading session 0.83% higher at $181.29. However, after-hours trade in the tech giant’s stock is in the red.

Facebook to train 1 million people

Facebook said it plans to train 1 million people across Europe to be more digitally able, over the next two years. The tech giant will also invest €10 million in its existing Paris-based AI research centre.

“Today we’re announcing a program to help EU businesses grow and to equip more people in the EU with the digital skills they need to compete in today’s workplace,” Facebook said in a press release.

“Small businesses are the heart of our economies and create the majority of new jobs all around the world. Through Community Boost EU, Facebook will work side by side with small businesses and start-ups to help them grow and hire,” Facebook added.

Facebook COO, Sheryl Sandberg also told Reuters reporters the tech firm believes its investment in improving people’s digital skills will benefit the digital economy.

Facebook outlines plans

The world’s most popular social media platform has outlined exactly how it plans to improve European’s digital knowledge and support the ongoing expansion of the global digital economy.

As well as opening three digital community hubs in Spain, Poland and Italy, Facebook will also work with a business called Freeformers to offer digital training to 300,000 people across Europe.

In addition, business will be offered a selection of training to suit their needs and improve their digital ability.

“Today’s announcements are part of our ongoing investments in digital training,” Facebook said. “We’re committed to investing in small businesses and their communities, and will share what we learn along the way.”