- By Aditya Pratap Singh
- Thu, 11 Jan 2024 12:56 PM (IST)
- Source:JND
Amazon layoff: E-commerce giant Amazon.com will lay off several workers at its Prime Video and Amazon MGM studios. After firing thousands of employees last year, Amazon announced a fresh round of layoffs that would affect 'several hundred' employees.
As per a Bloomberg report, Prime Video and Amazon MGM Studios senior vice president Mike Hopkins said that Over the past year, the company have looked at every aspect of its business to improve its ability to deliver even better movies, TV shows and live sports in a personalized, easy-to-use entertainment experience for our global customers.
As a result, while increasing our investment and focus, we have identified opportunities to reduce or discontinue investments in specific areas that have the greatest impact on content and product initiatives, he said further.
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Last year, the e-commerce behemoth cut more than 27,000 jobs as part of a series of U.S. tech layoffs.
In the last few years, Amazon has aggressively strengthened its media business, including an $8.5 billion deal for MGM and about $465 million for the first season of "The Lord of the Rings.
In a report on Tuesday, Bloomberg also reported that Amazon's Twitch livestreaming service is preparing to announce cuts of about 35% of its workforce, or about 500 employees.
As per the reports, Amazon will notify affected employees in the US and other regions by the end of the week on Wednesday.
In the video streaming business, Walt Disney Co., Paramount Global and Warner Bros. Discovery Inc. Other companies have also cut the expenditure. Netflix Inc. has not hied its content budget in the last two years.
Similar to moves by rivals Netflix and Walt Disney, Amazon is set to roll out an ad-free subscription tier for Prime Video in some markets.
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