Amazon to lay off several hundred staff in Prime Video, Studios

Amazon.com will lay off several hundred employees in its streaming and studio operations, it said in an internal note on Wednesday as companies extend their massive job cuts over the past two years into 2024.

The staff facing exit at Prime Video and Amazon MGM Studios in the Americas will be informed on Wednesday and in most other regions by the end of the week.

The online retail behemoth last year cut more than 27,000 jobs as part of a wave of U.S. tech layoffs after the industry hired heavily during the pandemic.

It is also set to roll out ads on Prime Video as well as a more expensive ad-free subscription tier in some market, similar to moves by rivals Netflix NFLX.O and Walt Disney DIS.N.

After widespread job cuts in 2022 and 2023, many companies are now targeting select projects and divisions as they re-priorities their resources.

Amazon recently cut some jobs at its Alexa voice assistant division, while Microsoft removed some staff at its LinkedIn professional network.

Amazon’s Twitch service is set to lay off 500 employees, or about 35% of its workforce, according to a media report on Tuesday.

Its shares, which surged more than 80% last year, were up 1.5% in afternoon trading.