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Fortune
Fortune
Paolo Confino

Amazon's hundreds of reported job cuts show the tech giant bit off more than it could chew with streaming and movies

Amazon Andy Jassy Disney Bob Iger Netflix Amazon MGM Studios CNBC Entertainment Fortune NFL
Amazon CEO Andy Jassy (Credit: Kevin Winter—Getty Images)

Amazon is learning what most legacy media companies already knew: Showbiz is tough.  

The e-commerce giant is cutting hundreds of employees from its streaming and movie divisious, according to an internal memo seen by Fortune. The cuts will affect Amazon MGM Studios, Prime Video, and the streaming service Twitch, an independent subsidiary that’s still unprofitable nine years on from its acquisition. 

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