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Amazon's Audible Announces Layoffs, Joining Tech Industry's Job Cut Trend

In a move that reflects the ongoing trend of job cuts in the technology industry, Amazon-owned online audiobook and podcast service, Audible, has announced that it will be laying off approximately 5% of its workforce.

This marks the third round of job cuts at the e-commerce giant's businesses this week.


Audible CEO Bob Carrigan addressed the layoffs in a memo sent to employees, acknowledging the challenging landscape the company is facing. He stated, "We did not take this route without considerable thought. But getting leaner and more efficient is the way we will need to operate now - and in the foreseeable future - in order to continue delivering best-in-class audio storytelling to our customers around the world."


While Audible declined to disclose the exact number of employees affected by the cuts, this announcement follows similar layoffs at Amazon's Prime Video and MGM Studios unit. The company is trimming hundreds of employees from its payroll as it focuses on areas that are not delivering expected results. Additionally, Amazon-owned streaming platform Twitch recently announced over 500 job cuts in an effort to improve profitability.


Audible, which was acquired by Amazon in 2008 for approximately $300 million, is a leading distributor and producer of audiobooks, meditation programs, and podcasts. The company has been actively seeking to attract more customers through exclusive content and high-profile deals, such as its multiyear agreement with Higher Ground Productions, founded by former President Barack Obama and Michelle Obama.


The tech industry, including companies like Amazon, experienced a surge in hiring during the pandemic. However, as inflation and interest rates increased, the focus shifted towards profitability, leading to cost-cutting measures and layoffs.


These recent job cuts at Audible and Amazon are part of a larger wave of layoffs that began in late 2022 and have impacted over 27,000 employees. Other tech companies, including Google, Xerox, and Unity Software, have also announced layoffs in recent days, indicating that the industry's job shedding is far from over.


In related news, social media company Discord confirmed that it will be laying off 17% of its staff, amounting to 170 employees. The company cited the need for increased agility in its workforce following a surge in hiring during the pandemic.

 

- Amazon-owned Audible is laying off approximately 5% of its workforce, joining the tech industry's trend of job cuts.

- Audible CEO Bob Carrigan emphasises the need for increased efficiency in the face of a challenging landscape.

- The exact number of employees affected by the layoffs has not been disclosed.


Source: AP NEWS

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