AssetID: 53353498
Headline: UNCAPTIONED: Hundreds of Twitch and Prime Video Workers to Be Laid Off
Caption: Hundreds of Twitch and Prime Video Workers to Be Laid Off. According to an internal Amazon memo sent to staff on Jan. 10, several hundred Prime employees will lose their jobs, 'The Guardian' reports. "We’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact.", Mike Hopkins, senior vice-president of Prime Video and Amazon MGM Studios, to employees. The news comes the same day that Twitch, an Amazon subsidiary, revealed that it would also be laying off about 500 employees. "We still have work to do to rightsize our company. For some time now the organization has been sized based upon where we optimistically expect our business to be in three or more years, not where we’re at today.", Dan Clancy, Twitch's chief executive, via blogpost. In recent years, Amazon has invested heavily in its media business, 'The Guardian' reports. Such investments include an $8.5 billion MGM deal and $46 million for season one of 'The Lord of the Rings: The Rings of Power'. Prime Video is expected to roll out ads on the platform soon. It will also offer a higher-priced, ad-free subscription tier in various markets. Last year, Amazon, Facebook, Microsoft and Google cut thousands of jobs. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Twitch,Prime Video,Workers,Laid Off,Fired,Firing,Employees,Jobs,Amazong,MGM Studios,Rings of Power,Impact,Investments,The Lord of the Rings,Business,Media,Gaming,Streaming,Platform,Amazon,Facebook,Microsoft,Google
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