YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Visa to Move European Headquarters to London’s Canary Wharf 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
Microchip Technology Boosts Q3 Outlook on Strong Bookings Momentum 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Anthropic Reportedly Taps Wilson Sonsini as It Prepares for a Potential 2026 IPO 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Trump Administration to Secure Equity Stake in Pat Gelsinger’s XLight Startup 
Amazon Inc. is reducing its workforce, and these job cuts will affect employees across its subsidiaries, such as Prime Video, Amazon MGM Studios, and Twitch. The company said on Wednesday, Jan. 10, that staff from two business units, which are its streaming and film & TV, are set to be laid off.
According to CNN Business, Amazon will terminate several hundred employees to cut costs. The company has been exerting efforts to reduce its operation expenses, and unfortunately, job cuts are part of the ongoing process.
Management Informed Employees of the Job Cuts
The company relayed the news to its staff through an internal memo that was also shared with CNN. The senior vice president of Amazon MGM Studios and Prime Video, Mike Hopkins, said that the management had already reached out to the affected employees on Wednesday.
In his memo to the employees, he wrote, “We have 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.”
Amazon acquired MGM in 2022 for $8.5 billion, and it was a strategic deal to help bolster the company’s position in the entertainment industry. The acquisition also expanded Amazon Prime Video’s video content and library.
Support for the Affected Workers
Amazon will offer support to employees who these layoffs will displace. Hopkins said they will provide packages that include a separation payment, job placement support, and applicable transitional benefits.
BBC News reported that in 2023, Amazon laid off over 27,000 staff, and this year, the first job cuts will affect “several hundred” people. In Twitch alone, 500 workers were confirmed to leave. The exact total number of terminated employees was not mentioned.
“Over the last year, we have been working to build a more sustainable business so that Twitch will be here for the long run and throughout the year we have cut costs and made many decisions to be more efficient,” Dan Clancy, Twitch’s CEO 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.”
Photo by: Marques Thomas/Unsplash
