Amazon.com is laying off several hundred employees in its streaming and studio operations, extending job cuts into 2024.
The layoffs will affect Prime Video and Amazon MGM Studios in the Americas and other regions.
The company is re-evaluating investments, focusing on content and product initiatives with the most impact. (Trending: Clintons Scramble To Delete Embarrassing Photo, But Were Too Slow)
Online retail behemoth Amazon said it will lay off several hundred employees in its streaming and studio operations, according to an internal note seen by @Reuters. Last year, the tech giant cut more than 27,000 jobs as part of a wave of US tech layoffs https://t.co/6O07mdx4RC pic.twitter.com/1YC0viGcDa
— Reuters Business (@ReutersBiz) January 10, 2024
Mike Hopkins, senior vice president of Prime Video and Amazon MGM Studios, said, “We’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact.”
This move follows aggressive spending to strengthen its media business, including acquiring MGM and investing in original content.
Other tech companies like Microsoft and Twitch are also implementing job cuts.
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