Amazon, the global e-commerce giant, has announced job cuts in its Prime Video and MGM Studios divisions. The news came in a memo sent by Mike Hopkins, the executive overseeing these units on Wednesday. These layoffs are part of Amazon’s strategy to prioritize long-term investments for the success of its business.
With the aim of delivering more breakthrough movies, TV shows, and live sports, Amazon plans to provide a personalized entertainment experience for its global customers. As a result, the company has identified areas where investments can be reduced or discontinued. Meanwhile, content and product initiatives that have the greatest impact will receive increased attention and resources.
The consequences of these decisions will be felt across Prime Video and Amazon MGM Studios, leading to the elimination of several hundred positions. In a parallel development, Amazon’s Twitch livestreaming unit announced 500 job cuts on the same day. This recent move follows a year of major layoffs at Amazon, which saw approximately 27,000 jobs being cut across different areas of the company.
Despite the job cuts, Amazon is committed to its long-term vision of establishing Prime Video as the preferred entertainment destination for customers worldwide. To support the impacted employees during this transition, they will receive separation packages that include a separation payment, transitional benefits, and external job placement support.
As Amazon continues to evolve, these strategic decisions reflect the company’s dedication to optimizing its operations and offerings to ensure sustained growth and meet the ever-changing demands of the entertainment industry.
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