Amazon will reportedly cut hundreds of jobs in its film and television studios, as well as from its Twitch video game streaming business.
Mike Hopkins, senior vice president of Amazon's Prime Video and MGM Studios, announced the layoffs in a memo to employees Wednesday. The contents of the memo were published by Variety and CNBC, among other news outlets. Twitch announced its layoffs in a separate note to employee, which the company published.
Amazon spent a year reviewing its Prime Video and entertainment operations, according to the memo.
"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," Hopkins wrote. "As a result of these decisions, we will be eliminating several hundred roles across the Prime Video and Amazon MGM Studios organization."
Meanwhile, Twitch said it is laying off roughly 500 employees. Chief Executive Dan Clancy wrote that the company cut costs over the past year to make Twitch more sustainable.
"Unfortunately, despite these efforts, it has become clear that our organization is still meaningfully larger than it needs to be given the size of our business," Clancy wrote.
Amazon acquired Twitch for just under $1 billion in 2014.
Last year, Amazon laid off more than 27,000 employees.
On the stock market today, Amazon stock gained 1.6% at close at 153.7.
