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Tech and retail giant Amazon.com is cutting its workforce further with new layoffs, this time in its media division.
Mike Hopkins, senior vice president of Prime Video and Amazon MGM Studios, told staff in an internal memo Wednesday that the organization will be eliminating “hundreds of roles” by the end of this week.
Amazon's Prime Video and MGM Studios divisions announced Wednesday that they will lay off hundreds of employees between now and the end of this week. (Jonathan Rah/NurPhoto via Getty Images/Getty Images)
In a memo that Amazon shared with FOX Business, Hopkins said the reason behind the layoffs is that the company will “increase investment and focus on content and product efforts that have the greatest impact while identifying “We have identified opportunities to reduce or discontinue investment in these areas.” impact. “
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He said the job cuts had been a “difficult decision” and that affected employees would be offered a severance package including transition pay and external job placement assistance.
Amazon-owned Twitch announced Wednesday that it will cut its workforce by 35%. (Rafael Enrique/SOPA Images/LightRocket via Getty Images/Getty Images)
Separately on Wednesday, Amazon's Twitch service announced a “difficult update” of its own, with CEO Dan Clancy writing to employees earlier in the day to cut its workforce by 35% to about 500 people. I shared the email notification on my blog.
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“Over the last year, we have worked to build a more sustainable business to ensure Twitch's long-term viability. We have also made a number of decisions throughout the year to reduce costs and increase efficiency. ” Clancy wrote. “Unfortunately, despite these efforts, it has become clear that our organization remains larger than necessary given the size of our business.”
He noted that the company paid streamers more than $1 billion in 2023.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| AMZN | Amazon.com Inc. | 153.73 | +2.36 | +1.56% |
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Amazon cut more than 27,000 jobs last year as part of its tech workforce as the industry went on a hiring spree during the pandemic.
Reuters contributed to this report.
