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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Amazon cuts jobs in the music streaming unit

The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid/File Photo
The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., Febru... The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid/File Photo
The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid/File Photo
The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., Febru... The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid/File Photo

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Amazon cuts jobs in the music streaming unit. Amazon.com (AMZN.O.) said on Wednesday that it has started reducing staff in its music sector. This is the most recent wave of layoffs that the retail behemoth implemented last year, affecting over 27,000 workers.

According to those acquainted with the situation, workers throughout Europe, North America, and Latin America knew their employment had been cut on Wednesday. Once Reuters contacted Amazon, a representative confirmed the termination. She refused to disclose the number of affected employees.

She said, “We have been closely monitoring our organizational needs and prioritizing what matters most to customers and the long-term health of our businesses.” The Amazon Music team has terminated a few positions. We’ll keep making investments in Amazon Music.

A Worker Adjustment and Retraining Notification site survey revealed that none of the company’s major employee centers—Washington state, where Amazon is headquartered, California, or New York—had filed for mass layoffs.

The layoffs occurred as Amazon revealed third-quarter net profitability significantly above analyst projections and predicted broadly in-line sales for the year’s last quarter. Since it includes Christmas shopping, Amazon’s fourth quarter is the most important.

Over the last month, Amazon has discreetly reduced employment, including communications personnel in its studio, video, and music businesses.

In addition to podcasts, Alphabet’s (GOOGL.O), Google, Apple’s (AAPL.O), Spotify, and Pandora are competitors of Amazon Music in providing paid, limitless music streaming services. Earlier this year, the monthly subscription cost increased by $1 to $10.99.


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