In a continued trend of job cuts within the tech industry, Amazon-owned online audiobook and podcast service Audible has announced a significant workforce reduction, marking the third round of layoffs within the e-commerce giant’s businesses this week.
In a memo addressed to employees on Thursday, Audible CEO Bob Carrigan acknowledged that while the company is in good shape, it is navigating an “increasingly challenging landscape.” Carrigan emphasized that the decision to reduce the workforce was made after careful consideration, stating, “Getting leaner and more efficient is the way we will need to operate now and in the foreseeable future in order to continue delivering best-in-class audio storytelling to our customers around the world.”
The exact number of employees affected by these layoffs was not disclosed by a spokesperson for Audible.
This round of job cuts at Audible follows similar announcements within other Amazon divisions earlier this week. Both Prime Video and MGM Studios, part of the Amazon umbrella, have revealed plans to trim their workforce, streamlining operations in areas that are not meeting expectations. Twitch, another Amazon-owned platform, also announced the elimination of over 500 jobs this week as part of a strategic effort to enhance profitability and reduce costs.
Amazon acquired Audible, a dominant force in the audiobook market, in 2008 for approximately $300 million. Over the years, Audible has not only solidified its position as a top distributor and producer of audiobooks, meditation programs, and podcasts but has also pursued growth through exclusive content and high-profile deals. This includes a multiyear agreement with Higher Ground Productions, founded by former President Barack Obama and Michelle Obama.
The recent wave of job cuts reflects a broader industry trend, with tech companies that ramped up hiring during the pandemic now focusing on cost-cutting measures as inflation and interest rates rise. Amazon’s ongoing workforce reductions, which began in late 2022, have impacted over 27,000 employees across various units.
In a related development on Thursday, social media company Discord confirmed a 17% staff reduction, affecting 170 employees. Discord characterized the move as an effort to bring more agility to its workforce following a surge in hiring during the pandemic.
As the tech industry grapples with ongoing challenges and shifts in economic dynamics, the recent wave of job cuts underscores the continued evolution and adaptation within the sector.
