What's Going On With Amazon (AMZN) Stock Wednesday - Amazon.com (NASDAQ:AMZN)

Amazon.Com, Inc AMZN stock is down Wednesday amid reports of Amazon workers planning a walkout over' lack of trust in leadership.
Approximately 1,900 employees worldwide look to walk out at 3 p.m. ET, with 900 workers gathering outside the Spheres that anchor Amazon's Seattle headquarters on Wednesday to protest the company's recent return-to-office mandate, layoffs, and environmental record, CNBC reports.
An influential worker organization, Amazon Employees for Climate Justice, organized the walkout.
Amazon recently initiated the most significant layoffs cutting 27,000 jobs. On May 1, the company called on corporate employees to start working from the office at least three days a week.
Additionally, Amazon recently eliminated one of its climate goals, Shipment Zero, wherein it pledged to make half its carbon-neutral shipments by 2030. Amazon said it would focus on its broader Climate Pledge, which includes a provision to reach net zero carbon emissions by 2040.
A separate report suggests CEO Andy Jassy is killing projects conceived during the times of Jeff Bezos.
The company has terminated at least 37 projects that originated during Bezos' tenure.
Jassy has urged teams to simplify and ruthlessly prioritize as they allocate their newly constrained budgets, Bloomberg reports.
When Bezos ran the company, he encouraged employees to pitch product ideas and take them from concept to reality with minimal bureaucratic second-guessing.
Bernstein analyst Mark Shmulik maintains Amazon.com with an Outperform, raising the price target from $125 to $140.
Price Action: AMZN shares traded lower by 1.85% at $119.41 on the last check Wednesday.
Photo by christian wiediger via Unsplash

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What's Going On With Amazon Stock Wednesday

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