Amazon-owned Audible cuts 5% of its workforce

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Amazon-owned audiobook company Audible is reportedly laying off 5% of its staff. As reported by Business Insider, the company has released an internal memo announcing about the job cuts.
According to the leaked memo received by Business Insider, the company CEO Bob Carrigan commended the staff for a successful 2023 and reassured them about the company’s positive standing. However, citing the “increasingly challenging landscape,” the company is still proceeding with workforce reductions.
Amazon has not yet released any official statement about the job cuts.
Amazon’s live-streaming site recently laid off 500 employees
Twitch, the widely used streaming platform, is reportedly undergoing another round of job cuts, marking the third instance after two rounds in the previous year.
As reported by Bloomberg, the company is set to lay off 35% of its workforce, amounting to 500 employees. The official announcement of these job cuts is anticipated later this week. These layoffs are announced amid concerns about financial challenges at Twitch and follow the recent departure of several key executives from the company within a relatively short time frame.
Twitch recently announced its plans to shut down the service in South Korea. “Ultimately, the cost to operate Twitch in Korea is prohibitively expensive and we have spent significant effort working to reduce these costs so that we could find a way for the Twitch business to remain in Korea. Twitch has been operating in Korea at a significant loss, and unfortunately there is no pathway forward for our business to run more sustainably in that country,” said the company in a blog post.



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