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Amazon-owned Audible lays off 5% of staff
Audible, the Amazon-owned audiobook company, is laying off 5% of its staff, according to a leaked memo obtained by Business Insider. Per the memo, Audible
Per the memo, Audible CEO Bob Carrigan praised staff for a strong 2023 and assured them that the business was in good shape… but, due to the “increasingly challenging landscape,” the company is still making cuts. Most recently, Amazon spent$8.5 billion on MGM in 2022, which brought more than 4,000 films and 17,000 TV shows to the Prime Video streaming service. Twitch is massively popular, but the costs of operating a huge live-streaming service are high, so the company has remained unprofitable.
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