2022 is shaping up to be Amazon's(NASDAQ: AMZN) worst year since at least the 2008 financial crisis.

The stock is down 44% year to date as it's gotten hit on multiple fronts. Revenue growth slowed due to difficult comparisons and macroeconomic headwinds, and profits declined as the company overexpanded during the pandemic. As a result, Amazon is now scrambling to cut costs, announcing that it would lay off 10,000 corporate employees; it's closing or canceling construction of dozens of warehouses, and pulling the plug on experiments like Amazon Care and Scout, its home delivery robot.

Continue reading

Source Fool.com