Layoffs hit Amazon Studios and Prime Video, with about 100 jobs cut
Amazon on Thursday said it was eliminating jobs at its Amazon Studios and Prime Video division, as the Seattle e-commerce giant streamlines its businesses.
The layoffs will affect about 100 employees, or 1% of the divisions’ 7,000-person workforce, according to a person close to the company who was not authorized to comment publicly.
“Like many businesses, we have been closely monitoring economic conditions and our organizational needs, and have made the decision to adjust resources,” Amazon said in a statement. “As a result, a small number of roles will be eliminated on some teams.”
Amazon Studios is the Culver City-based film and TV production arm of the Andy Jassy-led company, supplying streaming service Prime Video with shows including “The Marvelous Mrs. Maisel,” “The Lord of the Rings: The Rings of Power” and the new spy thriller “Citadel.”
Amazon has spent more than $700 million for the first season of “The Lord of the Rings: The Rings of Power,” a high priority for founder Jeff Bezos.
The company bolstered its entertainment business last year with the $8.5-billion purchase of MGM Studios, known for the “Creed” franchise and other films. Amazon Studios’ film arm is increasingly betting on theatrical releases, with movies such as the recent Ben Affleck-Matt Damon film “Air.”
The eliminations come after a series of layoffs at Amazon, as several tech and entertainment companies have tried to cut costs amid a challenging economy. Meta, Google and Roku also have trimmed their workforces.
Entertainment companies also have faced layoffs. Walt Disney Co. is in the midst of slashing 7,000 jobs as part of a plan to save $5.5 billion in costs.
“Everyone’s tightening their budgets,” said Ray Wang, chief executive of Constellation Research. “This is more about adjusting for where people believe economic conditions will be.”
Amazon laid off 18,000 employees earlier this year, followed by an elimination of another 9,000 jobs announced in March. The latter round of cuts hit divisions including Twitch, a platform for creators known for livestreams of people playing video games.
Amazon said Monday that it would cut an additional 9,000 jobs at the company, including at Twitch, its platform that features live streams and creators.
On Wednesday, Amazon also said it was winding down its Halo fitness tracker business.
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