Amazon to lay off employees in Prime Video, Studios divisions
Move is designed to stem losses after two rounds of layoffs last year
New York: Amazon.com said on Wednesday it will lay off several hundred employees in its Prime Video and Amazon MGM Studios.
"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," the company said in an emailed statement to Reuters.
The move could be announced as soon as Wednesday, the report added. The business remains unprofitable nine years after Amazon's acquisition of the company, the report said.
Twitch to lay off 35% of workforce
Meanwhile, streaming unit Twitch is set to cut 35 per cent of its staff, or about 500 workers, Bloomberg News reported on Tuesday, citing people familiar with the plans.
Twitch CEO Dan Clancy said in December that the company would shut down operations in South Korea in February this year, due to high operating costs and network fees.
The company had laid off more than 400 employees in March last year after its user and revenue growth did not meet expectations.