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Amazon.com is cutting 5% of Audible’s workforce, following a massive layoff spree. The company also announced hundreds of layoffs within its streaming and studio business. Audible CEO Bob Carrigan mentioned that the layoffs are an attempt to strengthen the business in the long term. Amazon hasn’t responded to a request for comment on the matter. Google’s parent company, Alphabet, also announced layoffs across multiple teams. This comes as big tech companies invest billions into AI technology. Last year, Amazon cut over 27,000 jobs in a wave of U.S. tech layoffs.

The job cuts follow the success of OpenAI’s ChatGPT, with Microsoft and Meta Platforms also pouring billions into generative artificial intelligence. Last year, Amazon eliminated over 27,000 jobs as part of a wave of U.S. tech layoffs after hiring heavily during the pandemic. Amazon acquired audiobook platform Audible for about $300 million in 2008. The company has not responded to requests for comment.

Tech companies are investing heavily in generative artificial intelligence as they experience mass job cuts, with Amazon laying off 5% of Audible’s workforce following a massive layoff spree. Last year, Amazon cut over 27,000 jobs, after hiring heavily during the pandemic. The job cuts follow the success of OpenAI’s ChatGPT, with Microsoft and Meta Platforms also pouring billions into generative artificial intelligence.



Read more: Amazon cuts 5% of Audible division’s workforce – Business Insider