(Reuters) – Amazon plans to lay off hundreds of employees in its Prime Video and Amazon MGM Studios divisions, continuing its recent job cuts.
Amazon confirmed a corresponding media report on Wednesday, but did not provide any exact figures. The company will inform affected employees in North and South America on Wednesday and those in most other regions by the end of the week, it said. “We have identified opportunities to reduce or stop investments in certain areas,” the group said. Investments would be increased in other areas.
The group cut more than 27,000 jobs in 2023 after massive hiring during the pandemic. In recent years, Amazon has invested aggressively to strengthen its media business. This also included the purchase of the film studio MGM for $8.5 billion. In 2022, Amazon cost $465 million to film the first season of “The Lord of the Rings: The Rings of Power”. The second season has already been filmed. It is still unclear when it will be shown.
(Report by Yuvraj Malik, written by Ralf Bode; Edited by Scot W. Stevenson; If you have any questions, please contact our editorial team at [email protected] (for politics and economics) or [email protected] ( for companies and markets).)