With just a few days left in the year, Amazon (NASDAQ: AMZN) stock is on track for its worst performance in more than 20 years. The tech giant has faced a range of headwinds as the economy has soured, hitting pandemic winners like Amazon hard.

Revenue growth has slowed sharply. Profits have shrunk. The company has taken several different steps to reel in its costs, including closing or canceling dozens of warehouses, laying off 10,000 corporate employees, and shuttering new businesses like Amazon Care, its healthcare start-up, and Scout, its home delivery robot.

It's also pulling back spending on Alexa after Business Insider reported that the voice-activated technology division is losing $10 billion a year.

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Source Fool.com