Audible, the online audiobook and podcast service owned by Amazon, is set to lay off approximately 5% of its workforce, marking the third round of job cuts within Amazon’s businesses this week.
Audible CEO Bob Carrigan, in a memo to employees, mentioned 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 not taken lightly, but streamlining operations is necessary for delivering top-notch audio storytelling globally.
The exact number of affected employees was not disclosed by an Audible spokesperson. These layoffs follow similar announcements in Amazon’s Prime Video and MGM Studios unit earlier in the week, indicating a broader trend of restructuring in areas that are not yielding desired results. Additionally, Amazon-owned streaming platform Twitch revealed plans to cut over 500 jobs to improve profitability.
Acquired by Amazon in 2008 for around $300 million, Audible is a leading distributor and producer of audiobooks, meditation programs, and podcasts. The service dominates the audiobook market, attracting customers through exclusive content and high-profile partnerships, including a multiyear agreement with Higher Ground Productions, founded by former President Barack Obama and Michelle Obama.
As part of a broader industry trend, tech companies like Amazon had aggressively hired during the pandemic but have now shifted focus to profitability amid rising inflation and interest rates. The recent job cuts at Audible are part of a larger wave that began at Amazon in late 2022, impacting over 27,000 employees.
In a related development, Discord, the social media company, confirmed a layoff affecting 17% of its staff, equivalent to 170 employees. Discord characterized the move as an effort to enhance workforce agility following a surge in hiring during the pandemic. Other tech giants like Google, Xerox, and Unity Software have also announced layoffs recently, indicating that the industry’s job shedding is ongoing.
