Amazon Laying Off Hundreds From Prime Video, Entertainment Divisions

Amazon is expected to cut hundreds of jobs in its film and television studios and its Twitch video game streaming business. The layoffs were announced in a memo to employees. The company spent a year reviewing its Prime Video and entertainment operations and identified areas where it can reduce or discontinue investments. Twitch also announced layoffs, stating that its organization is larger than necessary for its business size. Amazon acquired Twitch in 2014. Last year, the company laid off more than 27,000 employees. Amazon stock gained 1.6% on the stock market.