Amazon is laying off hundreds of employees at Prime Video and MGM Studios

Amazon wants to lay off hundreds of employees at its Prime Video and Amazon MGM Studios divisions, continuing recent job cuts. Amazon confirmed a similar media report on Wednesday, but did not provide any specific numbers. The company said it would notify affected employees in North and South America on Wednesday and employees in most other regions by the end of the week.

“We have identified opportunities to reduce or stop investments in certain areas,” the group said. Investments will be increased in other areas.

27 thousand jobs will be eliminated in 2023

The group cut more than 27,000 jobs in 2023 after massive hiring during the pandemic. In recent years, Amazon has invested heavily to bolster its media business. This also included the purchase of the film studio MGM for $8.5 billion. In 2022, it cost Amazon $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 released.