Amazon.com will lay off several hundred employees in its streaming and studio operations, it said in an internal note on Wednesday as companies extend their massive job cuts over the past two years into 2024. The Amazon Prime Video streaming app is seen (AP) The staff facing exit at Prime Video and Amazon MGM Studios in the Americas will be informed on Wednesday and in most other regions by the end of the week. Wrap up the year gone by & gear up for 2024 with HT! Click here The online retail behemoth has cut more than 27,000 jobs last year as part of a wave of U.S. tech layoffs after the industry hired heavily people during the pandemic. "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," Mike Hopkins, senior vice president of Prime Video and Amazon MGM Studios, told employees in a note seen by Reuters. The company has spent aggressively in recent years to bolster its media business, including the $8.5 billion deal for MGM and around $465 million on the first season of "The Lord of the Rings: The Rings of Power" on Prime Video in 2022. Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed "“ it's all here, just a click away! -Login Now! SHARE THIS ARTICLE ON Share this article Share Via Copy Link Streaming