Amazon is following Twitch with layoffs, the company revealed is laying off several hundred employees in its Prime Video and Amazon MGM Studios. The company notified the staff members about the layoffs in an email memo sent on Wednesday morning.
Mike Hopkins, senior vice president of the division, announced the cutbacks on the headcount, he also mentioned the reason for the reduction, which is to “reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact.”
“It is hard to say goodbye to talented Amazonians who’ve made meaningful contributions on behalf of our customers, team and business. Thank you for your dedication and work. To help with the transition, we are providing packages that include a separation payment, transitional benefits as applicable by country, and external job placement support.”
“Our prioritisation of initiatives that we know will move the needle, along with our continued investments in programming, marketing and product, positions our business for an even stronger future,” said Hopkins.
According to the news reports, the tech giant is in the process of notifying the affected employees in the U.S. and other regions in some parts of the world by the end of this week.
Amazon acquired MGM for $8.5 billion in 2022, then it launched Amazon MGM Studios Distribution to license Amazon Originals and other titles to streaming services and cable companies in an effort to earn more revenue.
Not a good start for Amazon Group!
