Mike Hopkins, Senior Vice President of Prime Video and Amazon MGM Studios, said: “It’s important that we prioritize our investments for the long-term success of our business, while relentlessly focusing on what we know matters most to our customers.”
Xerox plans to cut 15 percent of its 23,000-person staff, while Unity Software announced 25 percent downsizing, affecting 1,800 roles.
Amazon, known for its extensive efforts in building its streaming platform, acquired MGM Studio for $8.5 billion in 2022.
It highlights the company's commitment to the streaming industry.
"Our organization is still meaningfully larger than it needs to be given the size of our business"
Twitch, acquired for approximately a billion dollars a decade ago, has been a key player in the gaming community.
However, last year, the platform faced a round of layoffs affecting 400 employees as part of broader cost-cutting measures at Amazon.
Twitch CEO Dan Clancy said: “Unfortunately, despite these efforts, it has become clear that our organization is still meaningfully larger than it needs to be given the size of our business.”
According to investment management firm Gabelli Funds data, the industry layoffs impacted over 9,000 jobs at major companies like Epic Games and Microsoft's Xbox.
