Amazon’s gamer streaming division Twitch announced Wednesday that it will lay off a third of its employees, or 500 people, due to financial difficulties. In addition, the company’s Audible division also plans to cut 5% of its workforce in a further phase of technology layoffs.
The online shopping giant also announced it would cut hundreds of employees in its entertainment division.
“Today, we wanted to send a short note to let you know that we have made the difficult decision to reduce the size of our workforce,” Twitch CEO Dan Clancy wrote in a blog post.
Meanwhile, Audible CEO Bob Carrigan sent a memo to employees on Thursday, saying the company was in good shape but was “facing increasingly challenging conditions.” AP report.
“We did not choose this route without much thought. However, in order to continue to provide best-in-class audio storytelling to our customers around the world, we need to become leaner and more efficient. This is the way we need to operate now and for the foreseeable future, Carrigan said.
The job cuts at Audible follow layoffs announced this week at Amazon’s Prime Video and MGM Studios divisions, which cut hundreds of employees in areas it doesn’t serve. are reducing their salaries.
The e-commerce giant announced it would lay off hundreds of employees at Prime Video and Amazon MGM Studios.
Tech companies like Amazon hired more during the pandemic, but began cutting costs and focusing on profitability as inflation and interest rates soared.
The latest job cuts follow mass layoffs that began at Amazon in late 2022, affecting more than 27,000 employees.
Other tech companies, including Google, tech company Xerox and video game software provider Unity Software, have also announced layoffs in recent days, suggesting the industry’s job cuts are far from over.
(With AP input)
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