Amazon to lay off employees in Prime Video, Studios divisions

Amazon.com said on Wednesday it will lay off several hundred employees in its Prime Video and Amazon MGM Studios. "We've 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," Mike Hopkins, senior vice president of Prime Video and Amazon MGM Studios, told employees in a note, seen by Reuters.

The company will inform the affected employees in the United States on Wednesday and most other regions by the end of the week. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.