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Now, just a week into 2024, Amazon is taking tangible steps to mitigate the financial impact of these failures. Reports confirmed that Amazon Prime Video and Amazon MGM Studios are implementing layoffs affecting several hundred employees. Amazon’s entertainment division, which had been pouring resources into The Rings of Power and other projects, is now facing a significant shakeup.
In an internal email, company leadership expressed regret and emphasized that these decisions were difficult but necessary. They assured employees of severance packages and transition support. A company spokesperson mentioned that affected staff in the U.S. were being notified immediately, with full communication to staff in other regions following shortly thereafter.