Amazon.com, Inc. is an American multinational technology giant known for its involvement in e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. Often hailed as “one of the most influential economic and cultural forces globally,” it holds a reputation as one of the world’s most valuable brands. As part of the Big Five American technology companies, Amazon stands alongside Alphabet (Google’s parent company), Apple, Meta, and Microsoft.
Founded by Jeff Bezos on July 5, 1994, in Bellevue, Washington, Amazon initially operated as an online marketplace specializing in books. Its strategic expansion into diverse product categories has earned it the moniker “The Everything Store.” The company boasts several subsidiaries, including Amazon Web Services (focused on cloud computing), Zoox (specializing in autonomous vehicles), Kuiper Systems (dedicated to satellite Internet), and Amazon Lab126 (engaged in computer hardware research and development). Among its acquired entities are Ring, Twitch, IMDb, and Whole Foods Market. The acquisition of Whole Foods in August 2017, valued at US$13.4 billion, significantly augmented Amazon’s presence as a physical retailer.
Amazon.com Inc. is undergoing a restructuring in its music division, involving job cuts primarily in the editorial and audio content team of Amazon Music. The exact number of affected positions remains undisclosed. This move aligns with CEO Andy Jassy’s overarching strategy to streamline expenses across the company. Last year, Amazon initiated its most substantial corporate job cuts, impacting 27,000 positions. An Amazon spokesperson acknowledged the organizational adjustments, stating, “Like many businesses, we have been closely monitoring our organizational needs and prioritizing what matters most to customers and the long-term health of our businesses.” The spokesperson emphasized ongoing investment in Amazon Music while reallocating resources to essential products and services for customers, creators, and artists.
The restructuring within Amazon’s music division commenced in October, starting with the elimination of communication roles. Notably, these job cuts are distinct from the broader layoffs implemented last year. The realignment hints at a potential shift in focus towards Amazon’s streaming platform, Prime Video, which has become the exclusive host for the National Football League’s Thursday Night Football games. Prime Video is seen as a strategic investment that could contribute to Amazon’s future success. Andy Jassy expressed confidence in the prospects of Prime Video during Amazon’s recent third-quarter earnings call, stating, “We also have increasing conviction that Prime Video can be a large and profitable business in its own right as we continue to invest in compelling exclusive content for Prime members.”