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Amazon's gaming streaming unit Twitch is laying off 500 employees due to financial struggles. Audible, another division of the company, is also planning to cut 5% of its workforce.
The layoffs at Audible follow others announced this week in Amazon's Prime Video and MGM Studios unit, which is trimming hundreds of employees from its payroll as it cuts back in areas that are not delivering.
In a memo to staff, Audible CEO Bob Carrigan said the company is in good shape, but faces an "increasingly challenging landscape.”
In the fourth quarter (Q4), Disney+ added seven million new subscribers, bringing its total to 150.2 million, including Hotstar, which was above analysts' projections of 148.15 million subscribers. 📲 Pixar Layoffs: Disney-Owned Animation Studio Likely To Lay Off 20% Workforce in 2024, Says Report.