Yet another Amazon is reportedly cutting 5 per cent of its workforce at Audible, the audiobook and podcast division, according to a memo from the division’s CEO, Bob Carrigan, cited by Business Insider on Thursday.
This news follows Amazon’s recent announcement of layoffs in its streaming and studio business, as part of a broader trend of major job cuts within the tech industry extending into 2024.
In the memo, Carrigan stated, “I want you to know that we’re making these decisions to strengthen our business for the long term.”
This downsizing at Amazon coincides with similar moves by other tech giants. On Wednesday, Google-parent Alphabet also disclosed plans to lay off hundreds of employees across various teams.
The ongoing job cuts in the tech industry occur as major players like Microsoft Corp and Meta Platforms allocate significant investments into generative artificial intelligence, inspired by the success of projects such as OpenAI’s ChatGPT.
Amazon faced significant job reductions last year, cutting over 27,000 positions in response to a broader wave of layoffs across the US tech sector. These cutbacks followed a period of intense hiring during the pandemic.
As the tech industry continues to evolve and adapt to changing market dynamics, companies are making strategic decisions to optimize their operations and maintain long-term competitiveness.
(With inputs from agencies)