Amazon to provide up to $10,000 for employees to start new delivery businesses

Amazon.com Inc. announced Monday the expansion of its Delivery Service Partner program, in which it will now provide up to $10,000 to fund the costs for employees to start and operate a package delivery business. The new incentive program will also include the equivalent of three months of the former employee's last gross salary to help the new small business owners get their businesses started. "We received overwhelming interest from tens of thousands of individuals who applied to be part of the Delivery Service Partner program, including many employees," said Dave Clark, senior vice president of worldwide operations. Amazon said it will take an active role in supporting the employees who leave to build their new delivery businesses, by providing "consistent delivery volume," access to the company's delivery technology, training and discounts on assets and services. Amazon's stock fell 2.1% in premarket trade. It has rallied 25.8% year to date through Friday, while the S&P 500 has gained 14.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.