Amazon layoff hits hundreds of Prime Video and MGM Studio staff

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As we enter 2024, Amazon is laying off hundreds of staff working across its Prime Video and MGM Studio divisions. Mike Hopkins, who supervises those units, sent a note to the staff on Wednesday. This means the tech layoffs trend, including Amazon, continues into 2024.

Looking back at 2023 alone, Amazon reduced its workforce by more than 27,000, mirroring actions by other tech majors. Meta and Microsoft cut 10,000 jobs, and Google scaled back by 12,000.

Mike Hopkins, who is in charge of Prime Video and Amazon MGM Studios, told the employees that the company found chances to spend less or stop putting money into some areas. Simultaneously, they will put more attention and money into making important and effective movies, TV shows, and other things.

Amazon layoffs hit right at the start of 2024

The internal memo on Wednesday revealed Amazon’s plan to streamline its operations, resulting in layoffs in streaming and studio divisions. Following this, Amazon-owned Twitch disclosed its intention to cut about 35% of its workforce, approximately 500 employees.

Moreover, it’s believed that the company is changing its focus or how it operates. Amazon seems to be making planned changes to its workforce to match the new priorities and trends in the digital entertainment and streaming industry, which is changing quickly.

Why is Amazon laying off hundreds of employees?

Mike Hopkins has an explanation for that. He explained that the company is making cuts to “focus on our long-term success.” Over the past year, he mentioned that they examined every part of the business. The goal was to enhance the delivery of better movies, TV shows, and live sports.

Consequently, they found ways to reduce spending in some areas and increase investments in content and products that make a big impact. As a result of these choices, Amazon will be cutting several hundred jobs in the Prime Video and Amazon MGM Studios teams.

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