What's Going On With Amazon Stock Wednesday
Portfolio Pulse from Anusuya Lahiri
Amazon (AMZN) stock is down amid reports of a planned walkout by 1,900 employees worldwide, protesting the company's return-to-office mandate, layoffs, and environmental record. Amazon recently eliminated its Shipment Zero climate goal and initiated significant layoffs, cutting 27,000 jobs. CEO Andy Jassy has also terminated at least 37 projects conceived during Jeff Bezos' tenure.
May 31, 2023 | 3:48 pm
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Amazon's stock is down as employees plan a walkout, protesting the company's return-to-office mandate, layoffs, and environmental record. CEO Andy Jassy has terminated 37 projects from the Bezos era.
The planned walkout by 1,900 employees worldwide and the termination of 37 projects from the Bezos era signal internal unrest and potential changes in the company's direction. These factors, combined with the recent layoffs and changes in environmental goals, may negatively impact investor sentiment and cause the stock price to decline in the short term.
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IMPORTANCE 80
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