With brief, occasional, italicized and sometimes gratuitous commentary…
• From The Information:
"Amazon is laying off several hundred employees in its Prime Video and Amazon MGM Studios, according to an email sent to employees on Wednesday morning viewed by The Information. It’s the latest example of fresh rounds of targeted job cuts at Amazon following mass layoffs that began in November 2022.
"Amazon video chief Mike Hopkins said in the email that Amazon has 'identified opportunities to reduce or discontinue investments in certain areas' but plans to increase spending on some 'content and product initiatives that have the most impact'."
Yesterday it was reported that Amazon’s livestreaming site Twitch is poised to cut 35% of its staff, or about 500 workers.
Some of this is just right-sizing, but I also think it reflects Amazon's lowered tolerance for economic pain. Which is why I think it is at least possible that it will shutter all of its physical stores at some point (not including Whole Foods), and put a greater focus on online grocery sales through Prime and Subscribe & Save. Fresh never has been its sweet spot, and my hunch is that at some point management will just get out of that business segment.