Amazon (NASDAQ:AMZN) layoffs are coming for employees of the e-commerce giant’s Audible division shortly after other job cuts at the company.
The latest Amazon layoffs have the company cutting 100 workers from its audiobook division. That represents about 5% of Audible’s headcount. Insiders claim that these cuts won’t affect the division’s content teams.
Amazon notes that the cuts at Audible came after a strong year in 2023. However, these layoffs were justified by the company as part of its efforts to achieve further success in the audiobook space.
Bob Carrigan, CEO of Audible, said the following to employees about the layoffs in a memo obtained by Variety.
“We did not take this route without considerable thought. But getting leaner and more efficient is the way we will need to operate now — and in the foreseeable future — in order to continue delivering best-in-class audio storytelling to our customers around the world.”
Additional Amazon Layoffs
Audible isn’t the only Amazon division that was hit with job cuts this week. The company also slashed 500 employees from streaming platform Twitch. These are part of a plan to turn Twitch into a profitable business for the e-commerce company.
Other recent job cuts at Amazon include workers for Prime Video and MGM Studios businesses. Yet again, all of this is part of Amazon’s effort to reduce costs amid a tough economy.
AMZN stock is down slightly as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
