Missouri Minute: Missouri House passes $27.8B budget; Amazon to cut KC area jobs

Here are today’s top business headlines from across Missouri:

Missouri House passes $27.8B budget that fully funds schools; Senate expects changes

Public K-12 schools in Missouri would see more money while higher education would be cut and a tax break for senior and disabled renters would be eliminated under a budget plan passed Thursday by the state House. The $27.8 billion proposed budget for the next fiscal year starting in July shows the Republican-led House’s priorities in elementary and secondary education and frustration with costs for health care. Read more

Amazon to cut jobs at suburban KC facility as it shutters Quidsi unit

Amazon will cut jobs at a distribution facility in suburban Kansas City, according to a filing. A March 29 notice under the Worker Adjustment and Retraining Notification Act indicated that 139 jobs at an Amazon’s facility in Lenexa, Kansas will be affected. The facility is associated with Quidsi, the parent company of Diapers.com that Amazon bought in 2010 in a deal valued between $500 million and $545 million. Read more

Boeing gets in on the venture capital game

The Boeing Co. has announced the creation of a new venture capital arm called Boeing HorizonX it says is designed to accelerate new technologies and business models applicable to the aerospace industry. The company, which has a sizable portion of its defense operation in the St. Louis area, said in a press release that it has already invested an undisclosed amount in two companies. Read more

Sprint drops half-off deal, tiered plans

Sprint Corp. ended its half-off promotion Thursday, along with its tiered plans. Sprint CEO Marcelo Claure previously had hinted that the carrier’s promotion would end as more customers switched to unlimited data plans, boosting the carrier’s revenue. “We plan to migrate as many as we can into our Unlimited Freedom Plan,” Claure said in October, soon after the carrier deployed its unlimited plan. “We have already started to move tens of thousands of customers to Unlimited Freedom.” Read more

Short contracts make MU’s nontenure-track faculty more vulnerable to layoffs

The University of Missouri System’s fiscal crisis could be especially difficult for nontenure-track faculty members. In a system-wide email sent on Monday, UM System President Mun Choi announced that the system needed to cut its budget by about 8 to 12 percent for fiscal year 2018 and that layoffs may be necessary to get there. A big difference between the types of faculty is contracts. Nontenure-track faculty are hired on one- to three-year contracts without the possibility of tenure. Read more

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