Google puts $1 billion into global education efforts

PITTSBURGH - Google (GOOG) says over the next five years it will spend $1 billion on nonprofit organizations helping to raise education levels around the world, and it will commit its employees to a million hours of volunteer work doing the same.

CEO Sundar Pichai announced the goal Thursday morning in Pittsburgh, the city where he arrived in the US from India 24 years ago.

Pichai also unveiled a program called "Grow with Google" aimed at training Americans how to get jobs or build their businesses. The program plans to outfit people with computer and entrepreneurial skills.

The company is partnering with online education companies like Udacity and Coursera as well as charitable organizations like Goodwill and 4-H.