Amazon laid off “a number of hundred” workers on Wednesday within the MGM Studios, Prime Video, and Twitch divisions. Workers had been let go in an e mail despatched by Senior Vice President Mike Hopkins.
“All through the previous yr, we have checked out practically each side of our enterprise with an eye fixed in direction of enhancing our capacity to ship much more breakthrough motion pictures, TV exhibits, and stay sports activities in a customized, straightforward to make use of leisure expertise for our international clients,” Hopkins wrote within the memo that was obtained by CNBC. “In consequence, we have recognized alternatives to cut back or discontinue investments in sure areas whereas rising our funding and concentrate on content material and product initiatives that ship essentially the most affect. On account of these selections, we might be eliminating a number of hundred roles throughout the Prime Video and Amazon MGM Studios group.”
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Hopkins known as the choice to slash staffers “tough” and famous that the layoffs had been international and will take as much as one week for all affected workers to be contacted.
“It’s laborious to say goodbye to gifted Amazonians who’ve made significant contributions on behalf of our clients, group and enterprise,” he mentioned. “Thanks on your dedication and work.”
Individually, on the live-streaming unit Twitch, which Amazon acquired in 2014, 500 staffers had been lower on Wednesday.
Final yr, Amazon initiated the most important spherical of layoffs in firm historical past when CEO Andy Jassy introduced that the corporate can be letting go of 18,000 staff, citing a tough financial time and speedy hirings within the years prior amid the pandemic.
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Amazon had a robust Q3 2023 after leaping 13% in income amid cost-cutting initiatives.
“We had a robust third quarter as our value to serve and pace of supply in our Shops enterprise took one other step ahead, our AWS progress continued to stabilize, our Promoting income grew robustly, and total working revenue and free money circulation rose considerably,” Jassy mentioned on the time.
It is estimated that the corporate has laid off 27,000 workers since final fall.
Amazon was up over 61% yr over yr as of Wednesday afternoon.
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