From Quiver Quantitative:

Amazon is beginning significant layoffs, with a focus on its Prime Video and studios business. In response to the changing landscape of the streaming industry, this cost-cutting measure coincides with hard times for the broader streaming industry. Market capitalization for many of the major companies has decreased, and Amazon’s cuts signal a shift in focusing on resource optimization and targeted content investments. The layoffs come as well from prior layoffs that have shed over 27,000 employees in the past 2 years. This shift reflects major concerns in negotiation growth plateaus and profitability within the industry.



Read more: Amazon Cuts Hundreds in Studios and Twitch