The giant e-commerce retailer overhired during the earlier stages of the pandemic.
Amazon (AMZN -3.00%) overinvested in capacity at the pandemic's onset when sales were booming. It now must take corrective action to rightsize the employee base.
*Stock prices used were the afternoon prices of Jan. 5, 2023. The video was published on Jan. 7, 2023.
John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon.com. The Motley Fool has a disclosure policy.
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