Amazon To Layoff Hundreds Of Employees In Prime Video, Studios Verticals

Amazon plans significant layoffs in Prime Video and MGM Studios in the U.S., aiming to refocus streaming investments.

Amazon To Layoff Hundreds Of Employees In Prime Video, Studios Verticals Image Credit: Reuters

New Delhi: The e-commerce giant Amazon is set to lay off several hundred employees from its Prime Video and Amazon MGM Studios verticals in the coming weeks in America. The company communicated these significant job cuts in an internal note.

To recall, Amazon cut more than 27,000 jobs last year amid a wave of Big Tech reductions following pandemic-era hiring sprees. Now, the company is refocusing its streaming investments on more high-impact areas. (Also Read: Good News For UPI Users, Now Receive Funds From Singapore Through UPI And PayNow)

Mike Hopkins, the senior vice president of Prime Video and Amazon MGM Studios, conveyed to employees in a memo that "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."

Adding further, he mentioned, "Throughout the past year, we've looked at nearly every aspect of our business with an eye toward improving our ability to deliver even more breakthrough movies, TV shows, and live sports in a personalized, easy-to-use entertainment experience for our global customers." (Also Read: Parliament's Budget Session To Begin On January 31; President Murmu To Address Joint Sitting Of Two Houses: Sources)

Earlier, Amazon's subsidiary, the live-streaming company Twitch, which was acquired by Amazon almost ten years ago, also announced it would lay off around 35 percent of its workforce, approximately 500 employees.