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Amazon to lay off hundreds of workers in its Prime Video, MGM Studios: Report | News Room Odisha

newsroomodisha.com 10-01-2024 05:49 1 Minutes reading
San Francisco: Amazon is reportedly laying off several hundreds of employees in its Prime Video and MGM Studios. Mike Hopkins, Senior Vice President of the division, announced the cuts in an email on Wednesday, saying that the reason for the reduction is to "reduce or discontinue investments in certain areas while increasing our investment and focus on content and product initiatives that deliver the most impact", reports TechCrunch. The company has also started to notify the affected workers in the US and will inform most other regions by the end of this week. Affected employees are provided with packages that include separation payments, transitional benefits, and external career transition support, the report mentioned. "Our prioritisation of initiatives that we know will move the needle, along with our continued investments in programming, marketing and product, positions our business for an even stronger future," Hopkins said. Meanwhile, Amazon-owned live game streaming platform Twitch is reportedly laying off 35 per cent of its workforce, or about 500 employees, this week. Twitch laid off dozens of employees last year, and has shut down its service in South Korea due to "prohibitively expensive" costs. According to a Bloomberg report, the fresh job cuts, "which could be announced as soon as Wednesday", come amid concerns over losses at Twitch.

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Delegation led by K'taka Min to visit Davos for World Economic Forum meet | News...

Bengaluru: A high-level delegation led by Heavy and Medium Industries Minister M.B. Patil will leave on January 14 to attend the World Economic Forum-2024 annual meet which will be held in Davos, Switzerland from January 15 to 19. Patil said that during the meeting, the delegation will draw the attention of businessmen over to the Karnataka government's business-friendly policies, evolved ecosystem, potential areas for investment, availability of human resources, priority to imbibe skills among students, and efficient single window system. He said that the delegation will hold all the meetings in Davos under the 'Innovation Will Impact' theme. "Our government aims to develop Karnataka as the leading manufacturing hub of Asia. We are also focussing on areas such as semiconductor, electric automotive, space and defense, clean energy, research and development and artificial intelligence," the minister said. He said that the delegation's aim is to attract more investment and to achieve collaborations with other business partners The delegation includes L.K. Athiq Additional Chief Secretary to the Chief Minister, Ekarup Kaur, Secretary, ITBT, S. Selvakumar, Principal Secretary, Department of Commerce and Industry, Gunjan Krishna, Commissioner of Commerce and Industries, and Mahesh, CEO, Karnataka Industrial Area Development Board (KIADB) among others.

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