On the bright side, there is no indication that AI is to blame, so the rest of the infotainment industry need lose no sleep conjuring up righteous indignation over the news.
It’s two years now since Amazon acquired MGM for a paltry $8.5 billion.
Well, it sounds a lot to you and me, but when we’re talking a company with a market capitalisation value of $1.6 trillion, $8.6 billion is neither here nor there.
But this is big business, and it’s all about margins.
Which is why, inevitably, MGM and Amazon Prime Video would at some point be merged, and jobs would go.
After all, you don’t get to be a trillion dollar company by paying high wages and keep jobs open just because you can afford to.
Pass the sick-bag
Per The Wrap, Amazon bosses are distraught.
One wept, “Change is always hard and decisions to lose valued employees are not ones we take lightly,” while another said mournfully, “We recognize this news is difficult. Please know that we do not take these decisions lightly.”
“Please know that…?” Pass the sick-bag.
On the bright side, there is no indication that AI is to blame, so the rest of the infotainment industry need lose no sleep conjuring up righteous indignation over the news.
Audible too
Barely was the paint dry on the that staff-dump at MGM, than news broke that 5% of Audible staff are being shafted too.
That all on top of the 35% cut back at Twitch that sees 500 jobs eliminated.
“We did not take this route without considerable thought,” Audible said tearfully.
Once again no mention of AI being to blame, so the publishing industry can rest easy. 27,000 jobs lost at Amazon since late 2022, but that’s life.
This post first appeared in the TNPS LinkedIn news feed.
