The e-commerce giant had warned in October that the fourth quarter would likely be tough because of an increasingly tight labor market. Amazon has significantly built out its warehouse space since the beginning of the pandemic but says it hasn't been able to fully staff those operations. As a result, it's offering workers increased starting wages and hiring bonuses. It's also paying more to move orders to fully staffed warehouses to get them to customers' doors on time. Amazon 's profit nearly doubled in the fourth quarter as the e-commerce giant was able to offset the rising costs of running its vast e-commerce business with its investment in Rivian, an electric car company. The company also said it would raise the price of its popular Prime membership.
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