Amazon axing ‘several hundred’ jobs across Prime Video and MGM Studios  

The Lord of the Rings: The Rings of Power, a Prime Video original

Amazon is set to cut “several hundred” positions across Prime Video and MGM Studios following year-long review of its video and streaming operations.

Mike Hopkins, senior VP at Prime Video and Amazon MGM Studios, announced the lay-offs in a memo to staff on Wednesday.

The exec said that, against the backdrop of a fast-changing industry, “it’s important that we prioritise our investments for the long-term success of our business, while relentlessly focusing on what we know matters most to our customers.

“Throughout the past year, we’ve looked at nearly every aspect of our business with an eye towards improving our ability to deliver even more breakthrough movies, TV shows, and live sports in a personalised, easy to use entertainment experience for our global customers.

“As a result, 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. As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organisation.”

Employees affected by the cuts are set to be notified in the coming hours, with Hopkins noting that those based in the Americas would be notified in the morning (Pacific Time). Affected employees in other regions will be notified by the end of the week.

Prime Video originals include The Lord of the Rings: The Rings of Power, The Summer I Turned Pretty, The Boys and its spin-off Gen V, The Wheel of Time and Reacher.

More to follow…