Amazon launches the first wave of layoffs in the new year, and more than 500 employees will face unemployment
Amazon, the global e-commerce giant, has announced that it will carry out mass layoffs at its Amazon Prime Video and MGM Studios, involving hundreds of people. At the same time, Twitch, Amazon's subsidiary, will also face more than 500 layoffs.
In an internal email, Mike Hopkins, director of Amazon Streaming and MGM, told employees that despite the rapid development of the mainstream media industry, the company still needs to prioritize long-term business growth, and as a result, it has made decisions to reduce or stop investing in some areas, putting employees at risk of layoffs at Amazon Video Streaming and MGM Studios.
Amazon acquired MGM in Los Angeles, California, for about $8.45 billion in 2022. The acquisition was intended to further strengthen Amazon's position in the streaming market, but after the development and expansion of the studio and studio was completed, the company announced a new round of layoffs.
In addition, Amazon has laid off about 27,000 employees in total between 2022 and 2023, making it the largest layoff in the company's history. According to Bloomberg, Amazon's livestreaming platform Twitch will lay off about 500 employees, or about 35% of the platform's total workforce.
After several years of rapid growth and expansion, most of the American media and technology companies in Los Angeles have now entered adjustment mode, and Amazon is one of them.
