E-commerce giant Amazon (AMZN) is cutting hundreds of entertainment jobs at its film and television studios, as well as its videogame-streaming platform.
In an email to staff, Amazon said: “We’ve identified opportunities to focus on content and product initiatives that deliver the most impact… As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organization.”
Twitch, the video game platform owned by Amazon, said it is cutting just over 500 jobs.
The latest layoffs come after Amazon cut 27,000 jobs in 2023 as it moved to get costs under control following the Covid-19 pandemic.
The new round of cuts also comes as Amazon modifies its Prime streaming service, raising prices and adding advertisements to the platform.
Other technology companies have announced job cuts since in recent months, including Spotify (SPOT) and Etsy (ETSY).
Amazon’s stock has gained 62% over the last 12 months to trade at $153.73 U.S. per share
