Amazon is cutting hundreds of jobs at Prime Video and MGM Studios

Amazon will cut hundreds of jobs at Prime Video and MGM Studios. The company says it wants to invest more in content and ‘product initiatives’. The number of positions cut would represent a relatively small percentage of the workforce, Amazon said.

“Our industry continues to evolve rapidly and it is important that we prioritize investments for the long-term success of our business,” Senior Vice President Mike Hopkins said in an internal memo. That memo has been seen by several media, including IndieWire. Hopkins says that there will be less or no more investment in certain parts of the company, without being specific. This would leave the company with more money to invest in ‘content and product initiatives that deliver the most impact’.

Although no concrete figures are shared, the number of jobs cut is said to be “a relatively small percentage” of the total job base. Earlier this week, Bloomberg reported that more than a third of Twitch’s staff would be laid off, which would amount to about 500 people. Twitch is also part of Amazon.