Amazon.com to Lay Off Hundreds in Streaming and Studio Operations
Prime Video and Amazon MGM Studios Employees Informed of Layoffs
Amazon.com (AMZN) will lay off several hundred employees in its streaming and studio operations. An internal note issued Wednesday signaled an extension of the massive job cuts that have swept through the tech industry over the past two years, into 2024.
The layoffs will predominantly affect staff at Prime Video and Amazon MGM Studios in the Americas. The reduction in staff will extend to most other regions by the end of the week, as reported by Reuters, citing the corporate communique.
Background of Amazon's Recent Layoffs and Tech Industry Trends
Last year, the online retail giant cut over 27,000 jobs, joining the wave of U.S. tech layoffs. This downsizing comes after a period of significant hiring during the COVID-19 pandemic. According to Mike Hopkins, Senior Vice President of Prime Video and Amazon MGM Studios, the company aims to refocus its investments and efforts on content and product initiatives that deliver the most impact.
