Amazon's Audible Division Cuts 5% of Workforce Amid Tech Industry Layoffs

The move follows similar layoffs in Amazon's Prime Video, MGM Studios, and Twitch, as tech companies shift focus to profitability in a challenging economic landscape.

Amazon's Audible division is laying off 5% of its workforce, marking the third round of job cuts in Amazon's businesses this week.
The layoffs at Audible follow others announced this week in Amazon's Prime Video and MGM Studios unit, and Twitch, which are also trimming their workforce.
Amazon-owned Audible, a top distributor and producer of audiobooks and podcasts, faces an 'increasingly challenging landscape', according to CEO Bob Carrigan.
Tech companies like Amazon, which ramped up hiring during the pandemic, have begun cutting costs as inflation and interest rates spiked and their focus turned to profitability.
Other tech companies, including Google, IT company Xerox, video game software provider Unity Software, and social media company Discord, have also announced layoffs recently.

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